SOLUTION: Susan Marciano part of her $30,000 bonus in a fund that paid a 10% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Susan Marciano part of her $30,000 bonus in a fund that paid a 10% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall
Log On
Question 905264: Susan Marciano part of her $30,000 bonus in a fund that paid a 10% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall net profit was $1,440 Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! Total amount of money invested: $30000
x+y=30000,
Total yearly interest for the two accounts is: $1440
0.1*x-0.03*y=1440
x=30000-y
Substitute for x
0.1*(30000-y)-0.03*y=1440
Multiply out
3000-0.10y-0.03*y=1440
Combine like terms.
-0.13*y=-1560
Isolate y
y=$12000.00 at -3%
x=30000-y
Calculate x
x=$18000.00 at 10%
Check
0.1*18000-0.03*12000=1440
1800+-360=1440
1440=1440
