Question

problem is
an investor invested a total of $1,500 in two mutual funds. One fund earned a 9% profit while the other earned a 2% profit. If the investor's total profit was $93, how much was invested in the mutual fund? Can someone help me with this please. Not sure how to write this equation out. Thanks

Answer 1

\[.09x+.02(1500-x)=93\] solve for \(x\)

Answer 2

reasoning that if you put \(x\) equal the amount invested at 9% then since the total is 1500 the amount invested at 2% must be \(1500-x\)

Answer 3

and since you know the total is 93, set the expression for the amount of interest equal to 93 and solve
probably easier to multiply all by 100 and solve
\[9+2(1500-x)=9300\] so you don't have to work with the decimals

Answer 4

sorry last line should have been
\[9x+2(1500-x)=9300\]

Answer 5

you got it from there? i get \(x=900\)

Answer 6

so how would the equation be written out. just 9x+ 2(1500-x) = 9300
9x + 3000 - 2x = 9300

Answer 7

yes,
three more steps and you are done

Answer 8

-7x = 6300
x=900

Answer 9

\[7x+3000=9300\]
\[7x=6300\]
\[x=900\]

Answer 10

but i need the amount the 9% was and for the 2% as well.

Answer 11

that is why you need to write what \(x\) represents at the start. i put \(x\)= amount invested at 9%

Answer 12

once we solve for \(x\) we know that the amount invested at 9% was $900
and since the total was $1500 the amount invested at 2% has to be $600

Answer 13

ok. I get it.. thank you