SOLUTION: Lashonda invested her savings in two investment funds. The amount she invested in Fund A was $6000 less than the amount she invested in Fund B. Fund A returned a 5% profit and Fund
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Question 1150172: Lashonda invested her savings in two investment funds. The amount she invested in Fund A was $6000 less than the amount she invested in Fund B. Fund A returned a 5% profit and Fund B returned a 6% profit. How much did she invest in Fund B, if the total profit from the two funds together was $1350?
Answer by VFBundy(438) (Show Source): You can put this solution on YOUR website!
Fund A:
Principal = p - 6000
Rate = 0.05
Interest = 0.05(p - 6000) = 0.05p - 300
Fund B:
Principal = p
Rate = 0.06
Interest = 0.06p
(0.05p - 300) + (0.06p) = 1350
0.11p - 300 = 1350
0.11p = 1650
p = 15000
Fund B:
Principal = p = $15,000
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