SOLUTION: An investor invested a total of $1,300 in two mutual funds. One fund earned a 8% profit while the other earned a 5% profit. If the investor's total profit was $95, how much was inv
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Question 630568: An investor invested a total of $1,300 in two mutual funds. One fund earned a 8% profit while the other earned a 5% profit. If the investor's total profit was $95, how much was invested in each mutual fund? Answer by John10(297) (Show Source):
You can put this solution on YOUR website! An investor invested a total of $1,300 in two mutual funds. One fund earned a 8% profit while the other earned a 5% profit. If the investor's total profit was $95, how much was invested in each mutual fund?
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Hi,
We will solve the linear system of two linear equations:
We will let x be the amount of 8% investment and y be the amount of 5% investment
Equation 1: x + y = 1300 (total invested money)
Equation 2: 0.08x + 0.05y = 95 (total interest of both investments)
Solve the linear system and you will find your answers:)
John10
