Problema Solution
An investor invested a total of $1700 in two mutual funds. One fund earned a 9% profit while the other earned a 6% profit. If investors total profit was $126, how much was invested in each mutual fund?
Answer provided by our tutors
Let = amount invested @ 9%
Let = amount invested @ 6%
given:
(1) a+b = 1700
(2) .09a + .06b = 126
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By solving these two, you get
a = 800, b = 900
$800 was invested @ 9%
$900 was invested @ 6%