SOLUTION: Please Help! Norma invested the start-up capital for her Internet business in two hedge funds. After one year one of the funds returned 5% and the other returned 6%, for a total re
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Question 160094This question is from textbook College Algebra
: Please Help! Norma invested the start-up capital for her Internet business in two hedge funds. After one year one of the funds returned 5% and the other returned 6%, for a total reurn of $5880. If the amount on which she made 6% was $10,000 larger than the amount on which she made 5%, then what was the original amout of her start-up capital? This question is from textbook College Algebra
You can put this solution on YOUR website! .06(10000+x)+.05x=5880
600+.06x+.05x=5880
.11x=5880-600
.11x=5280
x=5280/.11
x=$48,000 was invested @5%
48000+10000=$58,000 was invested @ 6%
Proof:
.06*58000+.05*48000=5880
3480+2400=5880
5880=5880
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