Question

investor invested $2,200 in two mutual funds. one fund earned 9% and the other earned 2% profit. If total profit was $184 how much was invested in each fund

Answer 1

How far did you get?

Answer 2

i dont know where to start is there a formula

Answer 3

LOL :) You don't need a formula here. Let x=amount invested in first mutual fund, y=in second. You know x+y=2200 and what else?

Answer 4

am lost

Answer 5

if u invest M dollars and u r paid r% then your profit is
\[ \large r\%\cdot M=\frac{r}{100}\cdot M \]
use this to form a second equation in addition to the one BARRYCARTER just gave yoiu

Answer 6

i hate math lol

Answer 7

the first mutual fund pays you 9% then your profit is
\[ \large 9\%\cdot x=0.09x \]
the second one pays you 2% then your profit is
\[ \large 2\%\cdot y=0.02y \]
Then
\[ \large 0.09x+0.02y= \]

Answer 8

but how do you find x or y

Answer 9

u have to solve the linear system (two equations) u now have. but before
\[ \large 0.09x+0.02y=?? \]

Answer 10

0.11

Answer 11

no, read the problem. how much is your total profit??

Answer 12

184

Answer 13

great. now u have the system
\[ \large \begin{cases}
x+y=2200\\ 0.09x+0.02y=184
\end{cases} \]
solve it!

Answer 14

x=2000 y=200

Answer 15

yes

Answer 16

thanks you

Answer 17

u r welcome.
don't hate math, it can be fun.
it could help u getting a well paying job.

Answer 18

i know I just get frustrated and not easy being a single mom working full time and trying to attend college :)

Answer 19

the best of luck to you.

Answer 20

thanks :)