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Question 178240: please help me solve this word problem
High-risk funds. Of the $50,000 that Natasha pocketed
on her last real estate deal, $20,000 went to charity. She
invested part of the remainder in Dreyfus New Leaders Fund
with an annual yield of 16% and the rest in Templeton
Growth Fund with an annual yield of 25%. If she made
$6060 on these investments in 1 year, then how much did she
invest in each fund?
Found 2 solutions by Alan3354, josmiceli:
Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website! please help me solve this word problem
High-risk funds. Of the $50,000 that Natasha pocketed
on her last real estate deal, $20,000 went to charity. She
invested part of the remainder in Dreyfus New Leaders Fund
with an annual yield of 16% and the rest in Templeton
Growth Fund with an annual yield of 25%. If she made
$6060 on these investments in 1 year, then how much did she
invest in each fund?
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Ignore the "filler material." It doesn't matter that it's "high risk." It doesn't matter where she made the money, it's irrelevant where the $20,000 went.
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She had $30,000 left that she invested at 2 rates.
Call the amount in Dreyfus d
Call the amount in Templeton t
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d + t = 30000
d*0.16 + t*0.25 = 6060 --> 16d + 25t = 606000 (no fractions)
d + t = 30000 --> d = 30000 - t
------------------ 2 eqns in 2 unknowns
16d + 25t = 606000
d = 30000 - t
Sub for d
16*(30000-t) + 25t = 606000
480000 - 16t + 25t = 606000
9t = 126000
t = $14,000
d = $16,000
Answer by josmiceli(19441)  (Show Source):
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