Problema Solution
An investor invested a total of $2300 in two mutual funds. One fund earned a 5% profit while the other earned a %3 profit. If the investors total profit was $89 how much was invested in each mutual fund?
Answer provided by our tutors
let the investment be x and 2300-x
0.05 x + 0.03(2300-x) = 89
0.02x + 69 = 89
0.02 x =20
x=100
so the oinvestment was $100 and $2200