SOLUTION: a man had $2,500 invested in a mutual fund which netted 2.5% profit for the last year. He also had $5,200 invested in a bond fund. What percent yearly profit would be needed by the

Question 1111945: a man had $2,500 invested in a mutual fund which netted 2.5% profit for the last year. He also had $5,200 invested in a bond fund. What percent yearly profit would be needed by the bond fund in order that the combined profit would be 4% of the total investment?
The words have me confused and I can't figure out a formula
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!
a man had $2,500 invested in a mutual fund which netted 2.5% profit for the last year. He also had $5,200 invested in a bond fund. What percent yearly profit would be needed by the bond fund in order that the combined profit would be 4% of the total investment?
The words have me confused and I can't figure out a formula

Annual proceeds from mutual fund: .025(2,500)



Let percent he�d need from the bond fund to reach his goal, be P

Then annual proceeds from the bond fund = $5,200P



Required income: .04(2,500 + 5,200)



We then get: .025(2,500) + 5,200P = .04(2,500 + 5,200)

62.5 + 5,200P = .04(7,700)

5,200P = 308 � 62.5

5,200P = 245.5

P, or percent he�d need from the bond fund to reach his goal =  

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