SOLUTION: You invested money in two funds. Last year, the first fund paid a dividend of 8% and the second a dividend of 5%, and you received a total of $1330. This year, the first fund paid

Question 429409: You invested money in two funds. Last year, the first fund paid a dividend of 8% and the second a dividend of 5%, and you received a total of $1330. This year, the first fund paid a 12% dividend and the second only 2% and you received a total of $1500. How much money did you invest in each fund?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Fund I x
Fund II ------------ y
0.08x+0.05y=1330 .............1
0.12x+0.02y=1500 .............2

multiply (1)by 5
Multiply (2) by 3
0.4 x + -0.02 y = 6650
0.36 x + 0.05 y = 4500

Add the two equations

0.76x=11150

/0.76

x=14671 Fund I

plug value of x in (1)

0.08x+0.05y=1330
1173.68 +0.05y= 1330
0.05y=1330-1173.68
0.05y= 156.32
y=3126 Fund II
neglect decimals
RELATED QUESTIONS
You invested money in two funds. Last year, the first fund paid a dividend of 9% and the... (answered by jorel1380)

You invested money in two funds. Last year, the first fund paid a dividend of 9% and the... (answered by mananth)

you invested money in two funds. last year, the first fund paid a dividend of 9% and the... (answered by mananth)

you invested money in two funds. last year, the first fund paid a dividend of 9% and the... (answered by Finavon)

You invested money in two funds. Last year, the first fund paid a dividend of 9% and the... (answered by Solver92311)

You invested money in two funds. Last year, the first fund paid a dividend of 9% and the (answered by mananth)

You invested money in two funds. Last year, the first fund paid a dividend of 9% and the... (answered by hokies)

Cannot solve this problem on my own. Help! You invested money in two funds. Last year, (answered by Solver92311)

You invested money in two funds. Last year, the first fund paid a dividend of 9%... (answered by ikleyn)