SOLUTION: An investor invested a total of $1700 in two mutual funds. One fund earned an 8% profit while the other earned a 2% profit. The total profit was $88 dollars, how much was invested
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Question 625036: An investor invested a total of $1700 in two mutual funds. One fund earned an 8% profit while the other earned a 2% profit. The total profit was $88 dollars, how much was invested in each mutual fund? Answer by oscargut(2103) (Show Source):
You can put this solution on YOUR website! Let x= ampount invested at 8%
Let y = amount invested at 2%
x+y=1700
0.08x+0.02y = 88
Solving this system
Answer: x = 900 and y = 800
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