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Question 768665: AN investor invested a total of %1,500 in two mutual funds. One fund earned a 4% profit while the other one earned 2% profit. If the investor total profit was $36, how much was invested in each mutual funds.
The amount invested in the mutual fund that earned a 4% was
The amount invested in the mutual fund that earned a 2% was
Answer by John10(297)   (Show Source):
You can put this solution on YOUR website! An investor invested a total of $1,500 in two mutual funds. One fund earned a 4% profit while the other one earned 2% profit. If the investor total profit was $36, how much was invested in each mutual funds.
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Hint: Let x and y are the amount of 4% investment and 2% investment respectively.
Then you will use those 2 variables to set up 2 EQUATIONS to make a linear equation system
The first equation is about the total fund which is $1500
The second equation is about the total earned interest of 2 accounts which is $36.
Solve the system by either substitution or elimination method.
Hope it's helpful.
If you need help with your math class, please contact me through my email or website at my profile. Thanks! John10
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