SOLUTION: Sam invested part of his $10,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if his overall

Algebra ->  Inequalities -> SOLUTION: Sam invested part of his $10,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if his overall       Log On


   

Question 156778This question is from textbook
: Sam invested part of his $10,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 4% loss. Find the amount of each investment if his overall net profit was $650.00.
I have the answer in the back of the book, I just need help setting up the formula.
Thank you. This question is from textbook

Answer by ankor@dixie-net.com(22740) About Me  (Show Source):
You can put this solution on YOUR website!
Here is the equation:
:
Let x = amt invested at 11%
then
(10000-x) = amt that lost 4%
:
.11x - .04(10000-x) = 650; remember to change the sign inside the brackets