Question

Can someone please help me solve my problem? I have a time limit I need to have this completed.

Answer 1

An investor invested a total of $1,500 in two mutual funds. One fund earned a 6% profit while the other earned a 3% profit. If the investor's total profit was $51, how much was invested in each mutual fund?

Answer 2

A + B = 1500
.06A +.03B = 51

solve system for A,B
i recommend multiplying 2nd equation by 100 to get rid of decimals

Answer 3

@dumbcow okay, I can do that. I just wasn't sure how to set it up.

Answer 4

no problem

Answer 5

Thank you! :]

Answer 6

I want to make sure that I am doing it correctly. when I multiply the second equation by 100 I will end up with 7a + 3b = 5100, right?

Answer 7

@dumbcow

Answer 8

oops i meant to put 6a + 3b = 5100

Answer 9

yes thats right