SOLUTION:
An investor invested a total of 2400 in two mutual funds. One fund earned a 9% profit while the other earned 4% profit. If the investor's total was $161, how much was investe
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An investor invested a total of 2400 in two mutual funds. One fund earned a 9% profit while the other earned 4% profit. If the investor's total was $161, how much was investe
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Question 712900:
An investor invested a total of 2400 in two mutual funds. One fund earned a 9% profit while the other earned 4% profit. If the investor's total was $161, how much was invested in each mutual fund? Answer by checkley79(3341) (Show Source):
You can put this solution on YOUR website! .09x+.04(2400-x)=161
.09x+96-.04x=161
.05x=161-96
.05x=65
x=65/.05
x=$1,300 was invested @ 9%.
2400-1300=$1100 invested @ 4%.
Proof:
.09*1300+.04*1100=161
117+44=161
161=161
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