Question 1204124

 invested: ${{{18050}}}
in two mutual funds: {{{x}}} and {{{y}}}

{{{x+y=18050}}}....solve for {{{x}}}

{{{x=18050-y}}}....eq.1

one earning {{{12}}}%={{{0.12}}} interest => let say mutual fund {{{x}}}
and the other earning {{{10}}}%={{{0.10}}} interest => let say mutual fund {{{y}}}
if after {{{1}}} year, the combined interest income is ${{{2041}}}, we have

{{{0.12*x+0.10y=2041}}}....eq.2

substitute{{{x}}} from eq.1

{{{0.12(18050-y)+0.10y=2041}}}

{{{2166 - 0.12y+0.10y=2041}}}

{{{2166 - 0.02y=2041}}}

{{{2166 - 2041=0.02y}}}

{{{125=0.02y}}}

{{{y=125/0.02}}}

{{{y=12500/2}}}

{{{y=6250}}}

go to eq.1

{{{x=18050-y}}}....eq.1, substitute{{{y}}}

{{{x=18050-6250}}}

{{{x=11800}}}

 
{{{11800}}} was invested in mutual fund earning {{{12}}}% interest 
and 
{{{6250}}} was invested in mutual fund earning {{{10}}}%. interest 


check:

{{{0.12*11800+0.10*6250=2041}}}....eq.2

{{{1416+625=2041}}}

{{{2041=2041}}}