document.write( "Question 673087: An investor invested a total of $2,300 in two mutual funds. one fund earned a 9% profit while the other earned a 2% profit was $95. how much was invested in each mutual fund \n" ); document.write( "

Algebra.Com's Answer #418480 by mananth(16946) $\"\"$ $\"About$

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Part I 9.00% per annum ------------- Amount invested =x
\n" ); document.write( "Part II 2.00% per annum ------------ Amount invested = y =
\n" ); document.write( " 2300
\n" ); document.write( "Interest----- 95
\n" ); document.write( "
\n" ); document.write( "Part I 9.00% per annum ---x
\n" ); document.write( "Part II 2.00% per annum ---y
\n" ); document.write( "Total investment
\n" ); document.write( "x + y= 2300 -------------1
\n" ); document.write( "Interest on both investments
\n" ); document.write( "9.00% x + 2.00% y= 95
\n" ); document.write( "Multiply by 100
\n" ); document.write( "9 x + 2 y= 9500.00 --------2
\n" ); document.write( "Multiply (1) by -9
\n" ); document.write( "we get
\n" ); document.write( "-9 x -9 y= -20700.00
\n" ); document.write( "Add this to (2)
\n" ); document.write( "0 x -7 y= -11200
\n" ); document.write( "divide by -7
\n" ); document.write( " y = 1600
\n" ); document.write( "Part I 9.00% $ 700
\n" ); document.write( "Part II 2.00% $ 1600
\n" ); document.write( "
\n" ); document.write( "CHECK
\n" ); document.write( "700 --------- 9.00% ------- 63.00
\n" ); document.write( "1600 ------------- 2.00% ------- 32.00
\n" ); document.write( "Total -------------------- 95.00
\n" ); document.write( "
\n" ); document.write( "m.ananth@hotmail.ca
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