Problema Solution
Susie had $36000 to invest into 2 funds. One fund had 4% profit while the other earned 1% profit. How much was invested in each mutual fund if the total profit was $400? How much was invested in the 4% fund? How much in the 1%?
Answer provided by our tutors
let
x = the money invested in the 4% fund
y = the money invested in the 1% fund
Susie had $36000 to invest into 2 funds:
x + y = 36000
the total profit was $400:
0.04x + 0.01y = 400
by solving the system of equations:
x + y = 36000
0.04x + 0.01y = 400
we find:
x = $13,333.33
y = $34,666.67
click here to see the step by step solution of the system of equations:
$13,333.33 was invested in the 4% fund.
$34,666.67 was invested in the 1% fund.