Question 696677
Can anyone help me solve this problem ? I have no idea how to do it. An investor invested a total of $1,900 in two mutual funds, one fund earned a 7% profit, while the other earned a 4% profit. If the investor's total profit was $97, how much was invested into each mutual fund?
<pre>
 
                  PRINCIPLE · RATE  =  INTEREST                                   
First investment      x      .07    =    .07x 
Second investment   1900-x   .04    = .04(1900-x)
------------------------------------------------- 
TOTAL                1900                  97


                  .07x + .04(1900-x) = 97
                    7x +   4(1900-x) = 9700
                      7x + 7600 - 4x = 9700 
                           3x + 7600 = 9700
                                  3x = 2100
              FIRST INVESTMENT =   x =  700
             SECOND INVESTMENT = 1900-x = 1900-700 = 1200

Answer: $700 at 7%, $1200 at 4%

Edwin</pre>