SOLUTION: How would I solve this problem?
Marcia bought shares in two mutual funds investing a total of $2500. One fund's shares went up by 20% while the other fund went up in the value
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Marcia bought shares in two mutual funds investing a total of $2500. One fund's shares went up by 20% while the other fund went up in the value
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Question 865301: How would I solve this problem?
Marcia bought shares in two mutual funds investing a total of $2500. One fund's shares went up by 20% while the other fund went up in the value by 8%. This was a total profit of $320 for Marcia. How much did she invest in each mutual fund? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = the amount she invested in
the 1st fund
Let = the amount she invested in
the 2nd fund
---------------
(1)
(2)
-----------------------
(2)
(2)
-----------------------
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
(1)
------------------
She invested $1,000 in the 1st fund and
$1,500 in the 2nd fund
check:
(2)
(2)
(2)
(2)
OK
