Can anyone help me solve this problem ? I have no idea how to do it. An investor invested a total of $1,900 in two mutual funds, one fund earned a 7% profit, while the other earned a 4% profit. If the investor's total profit was $97, how much was invested into each mutual fund?
PRINCIPLE · RATE = INTEREST
First investment x .07 = .07x
Second investment 1900-x .04 = .04(1900-x)
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TOTAL 1900 97
.07x + .04(1900-x) = 97
7x + 4(1900-x) = 9700
7x + 7600 - 4x = 9700
3x + 7600 = 9700
3x = 2100
FIRST INVESTMENT = x = 700
SECOND INVESTMENT = 1900-x = 1900-700 = 1200
Answer: $700 at 7%, $1200 at 4%
Edwin