Question 1074529: 1. An investor invested a total of $2,400 in two mutual funds. One fund earned a 8% profit while the other earned a 4% profit. if the investors total profit was $120, how much was invested in each mutual fund?
2. Mark deposited a total of 35,000 in two different CD's. One CD paid 4.25% annual interest, and the other paid 3.5% annual interest. At the end of one year, he had earned $1450 in interest from the two CD's. How much did mark invest in each CD?
Answer by ankor@dixie-net.com(22740)   (Show Source):
You can put this solution on YOUR website! 1. An investor invested a total of $2,400 in two mutual funds.
One fund earned a 8% profit while the other earned a 4% profit.
if the investors total profit was $120, how much was invested in each mutual fund?
:
let x = amt invested in mutual fund 1
the total invested is 2400, therefore
(2400-x) = amt invested in m.f. 2
Fund 1 return + find 2 return = $120
.08x + .04(2400-x) = 120
.08x + 96 - .04x = 120
.08x - .04x = 120 - 96
.04x = 24
x = 24/.04
x = $600 invested at 8%
then
2400 - 600 = $1800 invested at 4%
You can check this for yourself. Find the sum of the return on each
:
Do this problem exactly same way we did the first one
2. Mark deposited a total of 35,000 in two different CD's. One CD paid 4.25% annual interest, and the other paid 3.5% annual interest. At the end of one year, he had earned $1450 in interest from the two CD's. How much did mark invest in each CD?
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