SOLUTION: You invested money in two funds. Last year, the first fund paid a dividend of 9% and the second a dividend of 3%, and you received a total of $900. This year, the first fund paid a
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-> SOLUTION: You invested money in two funds. Last year, the first fund paid a dividend of 9% and the second a dividend of 3%, and you received a total of $900. This year, the first fund paid a
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Question 446618: You invested money in two funds. Last year, the first fund paid a dividend of 9% and the second a dividend of 3%, and you received a total of $900. This year, the first fund paid a 10% dividend and the second paid 1%, and you received a total of $800. How much money did you invest in each fund? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! .09x+.03y=900
.10x+.01y=800
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9x+3y=90000
10x+y=80000
30x+3y=240000
21x=150000
x=7142.86
y=8571.43
I invested $7142.86 in the first fund, and $8571.43 in the second..
