SOLUTION: This problem is one I cannot quite understand and I am not sure how to put it in the proper format. Can you help me please?
An investor invested a total of $800 in two mutual fund
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An investor invested a total of $800 in two mutual fund
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Question 623413: This problem is one I cannot quite understand and I am not sure how to put it in the proper format. Can you help me please?
An investor invested a total of $800 in two mutual funds. One fund earned a 6% profit while the other earned a 2% profit. If the investor's total profit was $28, how much was invested in each mutual fund?
amount invested in 6% mutual fund?
amount invested in 2% mutual fund?
You can put this solution on YOUR website! An investor invested a total of $800 in two mutual funds. One fund earned a 6% profit while the other earned a 2% profit. If the investor's total profit was $28, how much was invested in each mutual fund?
amount invested in 6% mutual fund?
amount invested in 2% mutual fund?
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x = amount at 6%
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0.06x + 0.02*(800-x) = 28
