SOLUTION: Hi, I cannot remember the formula for a problem of this nature. Can anyone help. A person has invested part of $27000 in a fund that paid 9% and the rest in a stock that suffered

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Hi, I cannot remember the formula for a problem of this nature. Can anyone help. A person has invested part of $27000 in a fund that paid 9% and the rest in a stock that suffered       Log On


   

Question 322102: Hi, I cannot remember the formula for a problem of this nature. Can anyone help.
A person has invested part of $27000 in a fund that paid 9% and the rest in a stock that suffered a 5% loss, I love that hidden message. Find the amount of each investment if the overall net profit was 1730.00.
Thanks in advance.
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.09x-.05(27,000-x)=1,730
.09x-1,350+.05x=1,730
.14x=1,730+1,350
.14x=3,080
x=3,080/.14
x=$22,000 ans. for the 9% investment.
27,000-22,000=5,000 ans. for the 5% investment.
Proof:
.09*22,000-.05*5,000=1,730
1,980-250=1,730
1,730=1,750