Problema Solution
An investor invested a total of 2800 in two mutual funds. One fund earned a 4% profit while the otherearned 2% profit. If the investors profit was $82, how much wasinvested in each mutual fund?
Answer provided by our tutors
First, lets write equations from the given:
x+y=2800 (Total amount invested)
.04x+.02y=82 (Total profit earned)
Where 'x' is the amount invested in the 4% profit fund and 'y' is the amount invested in the 2% profit fund.
Using Algebrator to solve for 'x' and 'y', we get:
x=$1300
y=$1500