SOLUTION: an investor invested a total of $1400 in 2 mutual funds. one fund earned a 6% profit and the other fund earned a 3% profit. If the investors total profit was $60, how much was inve
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Question 623827: an investor invested a total of $1400 in 2 mutual funds. one fund earned a 6% profit and the other fund earned a 3% profit. If the investors total profit was $60, how much was invested in each mutual fund
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
an investor invested a total of $1400 in 2 mutual funds. one fund earned a 6% profit and the other fund earned a 3% profit. If the investors total profit was $60, how much was invested in each mutual fund
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let x=$amt invested in 6% fund
1400-x=$amt invested in 3% fund
.06x+.03(1400-x)=60
.06x+42-.03x=60
.03x=18
x=600
1400-x=800
$amt invested in 6% fund=600
$amt invested in 3% fund=800
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