SOLUTION: 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

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Question 696677: 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?
Amount invested into mutual fund that earned 7% -
Amount invested into mutual fund that earned 4%-

Found 3 solutions by rfer, Edwin McCravy, stanbon:
Answer by rfer(16322)   (Show Source): You can put this solution on YOUR website!
0.07x+0.04(1900-x)=97
0.07x-0.04x=97-76
0.03x=21
x=21/0.03
x=$700 at 7%
1900-x=$1200 at 4%

Answer by Edwin McCravy(20060)   (Show Source): You can put this solution on YOUR website!
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)
------------------------------------------------- 
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

Answer by stanbon(75887)   (Show Source): You can put this solution on YOUR website!
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?
Principal Equation: a + b = 1900
Interest Equation: 7a + 4b = 9700
--------------------------------------
Multiply thru 1st by 4
----------------------------
4a + 4b = 4*1900
7a + 4b = 9700
---
Subtract and solve for "a":
3a = 2100
a = 700 (amt. invested at 7%
-----
Solve for "b":
a + b = 1900
700 + b = 1900
b = 1200 (amt. invested at 4%
====================================
Cheers,
Stan H.
Amount invested into mutual fund that earned 7% -
Amount invested into mutual fund that earned 4%-

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