Question 744436: Please help me solve this equation.
An investor invested a total of $1,800 in two mutual funds. One fund earned 9% profit while the other earned 3% profit. If the investor's total profit was $84, how much was invested in each mutual fund?
The amount invested in the mutual fund is earned 9% was $ ___
The amount invested in teh mutual fund that earned 3% was $___
Answer by rothauserc(4718)   (Show Source):
You can put this solution on YOUR website! The problem states
An investor invested a total of $1,800 in two mutual funds. One fund earned 9% profit while the other earned 3% profit. If the investor's total profit was $84, how much was invested in each mutual fund?
let x = amount of money invested in 9% stock and
1800-x is amount of money invested in 3% stock
then we have
.09x + .03(1800 - x) = 84
.09x + 54 - .03x = 84
.06x = 30
x = 500
so $500 was invested at 9% and
$1300 was invested at 3%
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