Problema Solution
Susan Wilson invested part of her $14,000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall net profit was $700.
Answer provided by our tutors
let
x = the money invested in the fund that paid 11% profit
y = the money invested in stock that suffered 3% loss
x + y = 14000
0.11x - 0.03y = 700
by solving the above system of equations we find
x = $8,000
y = $6,000
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Susan invested $8,000 in a fund and $6,000 in stock.