SOLUTION: An investor invested a total of $2,500 in two mutual funds. One fund earned a 9% profit while the other earned a 3% profit. If the investor's total profit was $159, how much was in
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-> SOLUTION: An investor invested a total of $2,500 in two mutual funds. One fund earned a 9% profit while the other earned a 3% profit. If the investor's total profit was $159, how much was in
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Question 684102: An investor invested a total of $2,500 in two mutual funds. One fund earned a 9% profit while the other earned a 3% profit. If the investor's total profit was $159, how much was invested in each mutual fund?
the amount invested in the mutual fund that earned 9% is
the amount invested in the mutual fund that earned 3% is Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! x+y = 2500
.09x + .03y = 159
...
x = 2500 - y
...
.09(2500-y) + .03y = 159
225 - .09y + .03y = 159
-.06y = 159-225
-.06y = -66
y = $1,100 at 3%
...
x = 2500 - 1100 = $1,400 at 9%
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