Question 742568: An investor invested a total of 2,200 in two mutual funds. One fund earned 8 percent profit, while the other earned 4 percent profit. If the investors total profit was $124, how much was invested in each mutual fund?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An investor invested a total of 2,200 in two mutual funds. One fund earned 8 percent profit, while the other earned 4 percent profit. If the investors total profit was $124, how much was invested in each mutual fund?
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Equations:
Quantity: x + y = 2200
Interest:8x +4y = 12400
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4x + 4y = 8800
8x + 4y = 12400
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4x = 3600
x = $900.00 (amt. invested at 8%)
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Solve for "y":
x + y = 2200
y = $1300 (amt. invested at 4%)
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Cheers,
Stan H.
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