|
Question 385766: Of the $50,000 that Natasha pocketed
on her last real estate deal, $20,000 went to charity. She
invested part of the remainder in Dreyfus New Leaders Fund
with an annual yield of 16% and the rest in Templeton
Growth Fund with an annual yield of 25%. If she made
$6060 on these investments in 1 year, then how much did she
invest in each fund?
Found 2 solutions by mananth, stanbon:
Answer by mananth(16949)   (Show Source):
You can put this solution on YOUR website! Of the $50,000 that Natasha pocketed
on her last real estate deal, $20,000 went to charity. She
invested part of the remainder in Dreyfus New Leaders Fund
with an annual yield of 16% and the rest in Templeton
Growth Fund with an annual yield of 25%. If she made
$6060 on these investments in 1 year, then how much did she
invest in each fund?
...
Investment = 50,000 -20,000=30,000
...
Dreyfus New Leaders Fund-16% ------------- $x
Templeton Growth Fund - 25%. ------------- 30,000-x
$6060 interest
...
16x+25(30000-x)=6060*100
16x+750,000-25x=606,000
-9x=606,000-750,000
-9x=-144,000
/-9
x=16,000 in Dreyfus New Leaders Fund
...
Balance in Templeton Growth Fund
m.ananth@hotmail.ca
Answer by stanbon(75887)  (Show Source):
You can put this solution on YOUR website! Of the $50,000 that Natasha pocketed
on her last real estate deal, $20,000 went to charity.
-------------------------
She invested part of the remainder in Dreyfus New Leaders Fund
with an annual yield of 16% and the rest in Templeton
Growth Fund with an annual yield of 25%. If she made
$6060 on these investments in 1 year, then how much did she
invest in each fund?
-----
Equations:
Quantity Eq::: x + y = 30000
Interest Eq::: 0.16x+0.25y = 6060
---
Multiply the Quantity Eq. by 16
Multiply the Interest Eq. by 100
----------------------------
16x + 16y = 16*30000
16x + 25y = 606000
------------------------
Subtract and solve for "y":
9y = 126000
----
y = $14000 (amt. invested at 25%
---
Since x+y= 30000, x = $16000 (amt. invested at 16%)
==============
Cheers,
Stan H.
-------
| |
|
| |
