SOLUTION: help please..
An investor invested a total of $2200 in two mutual funds. One fund earned 5% profit while the other earned a 2% profit. If the investor's total profit was $68, ho
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An investor invested a total of $2200 in two mutual funds. One fund earned 5% profit while the other earned a 2% profit. If the investor's total profit was $68, ho
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Question 752531: help please..
An investor invested a total of $2200 in two mutual funds. One fund earned 5% profit while the other earned a 2% profit. If the investor's total profit was $68, how much was invested in each mutual fund?
The amount invested in the mutual fund that earned 5% was?
The amount invested in the mutual fund that earned 2% was?
You can put this solution on YOUR website! An investor invested a total of $2200 in two mutual funds. One fund earned 5% profit while the other earned a 2% profit. If the investor's total profit was $68, how much was invested in each mutual fund?
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Quantity Equation: x + y = 2200
Interest Equation:5x +2y = 6800
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Modify for elimination:
2x + 2y = 4400
5x + 2y = 6800
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Subtract and solve for "x":
3x = 2400
x = $800 (amt. invested at 2%)
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Solve for "y":
x + y = 2200
800 + y = 2200
y = $1400 (amt. invested at 5%
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Cheers,
Stan H.
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The amount invested in the mutual fund that earned 5% was?
The amount invested in the mutual fund that earned 2% was?
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