Problema Solution
An investor invested a total of $2,800 in two mutual funds. One fund earned 4% profit while the other earned a 2% profit. If the investors total profit was $76, how much was invested in each mutual fund?
Answer provided by our tutors
x+y=2800.
0.04x+0.20x=76.
4x+2y=7600.
2x+2y=5600. By substraction..
2x=200.
x=2000/2.
=$1000.
y=2800-1000
=$1800.
Amount invetsed at 4%=$1000.00
Amount invetsed at 2% =$1800.