Problema Solution
You have $2,000 to invest, and two funds that you'd like to invest in. Fund Y yields 12% interest. Fund X yields 16% interest. How much do you invest in each account if you make $250?
Answer provided by our tutors
let
x = the amount invested in fund X
y = the amount invested in fund Y
x + y = 2000
0.16x + 0.12y = 250
by solving the above system of equations we find:
x = $250
y = $1,750
click here to see the step by step solution of the system of equations:
you should invest $250 into fund X and $1,750 into fund Y.