SOLUTION: Juan had $24400 and chose to split the money into two different mutual funds. During the first year, Fund A earned 4% interest and Fund B earned 6% interest. If he received a total

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Question 1130799: Juan had $24400 and chose to split the money into two different mutual funds. During the first year, Fund A earned 4% interest and Fund B earned 6% interest. If he received a total of $1252 in interest, how much had he invested into each account?

Found 2 solutions by josgarithmetic, ikleyn:
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
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Juan had $P and chose to split the money into two different mutual funds. During the first year, Fund A earned L% interest and Fund B earned H% interest. If he received a total of $G in interest, how much had he invested into each account?
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x into account A
y into account B

system%28x%2By=P%2CLx%2F100%2BHy%2F100=G%29
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y=P-x
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Lx%2BHy=100G
Lx%2BH%28P-x%29=100G
Lx%2BHP-Hx=100G
%28Lx-Hx%29=100G-HP
Hx-Lx=HP-100G
%28H-L%29x=HP-100G
highlight%28x=%28HP-100G%29%2F%28H-L%29%29

Solve for x and use it to evaluate y.

Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.
If you really want to learn on how to solve such problems, you have this brilliant and unique opportunity.

Look into the lesson
    - Using systems of equations to solve problems on investment
in this site.

You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
different methods of solution to the equations  (Substitution,  Elimination).

Also,  you have this free of charge online textbook in ALGEBRA-I in this site
    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic  "Systems of two linear equations in two unknowns".


Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.