SOLUTION: an investor invest 2800 dollars into two mutual funds one has a profit of 5% the other has 2%, the total profit is 80, how much was invested in each fund.
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Question 696839: an investor invest 2800 dollars into two mutual funds one has a profit of 5% the other has 2%, the total profit is 80, how much was invested in each fund.
You can put this solution on YOUR website! an investor invest 2800 dollars into two mutual funds one has a profit of 5% the other has 2%, the total profit is 80, how much was invested in each fund.
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Equations:
Quantity: a + b = 2800 dollars
Interest:5a + 2b = 8000
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Multiply thru the Quantity Equation by 2:
2a + 2b = 2*2800
5a + 2b = 8000
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Subtract and solve for "a":
3a = 2400
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s = 800 (amt. invested at 5%)
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Solve for "a":
a+b = 2800
a + 800 = 2800
a = 2000 (amt. invested at 2%)
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Cheers,
Stan H.
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