Question

An investor invested a total of $800 in two mutual funds. One fund earned a 5% profit while the other earned a 3% profit. If the investor's total profit was $28, how much was invested in each mutual fund?

Answer 1

So we have two variables \(a, b\)
We know that \(a +b = 800\)
and we know \(.05a + .03b =28 \)

Two equations, two variables. Do you know how to solve a system of equations?

Answer 2

is this the next step? .5(800-y)+.03y=28

Answer 3

Yeah, seems you changed \(b\) into \(y\), but that's fine, lol. Keep going.

Answer 4

450-.5y +.03y= 2800

Answer 5

Wait, it should be \(.05\) not \(.5\)

Answer 6

45-.05y+0.3=28.00

Answer 7

450-0.5y+.03y=28.00

Answer 8

450-.08y=$28.00

Answer 9

\[.05(800-y) + .03y = 28 \Rightarrow .05(800) + .05y + .03y = 28\]

Answer 10

so 40+.08y=28

Answer 11

Yeah, so solve for \(y\), then plug that result into \(x+y=800\) to find \(x\).
Then you will have the value for \(y\) and \(x\).

Answer 12

Y=13 X=15 ?

Answer 13

Oopos, I made a mistake.
\[.05(800-y) + .03y = 28 \Rightarrow .05(800) - .05y + .03y = 28 \]

Answer 14

So we have \[-.02y = 28-40 \Rightarrow y = 600 \]

Answer 15

Sorry about that.

Answer 16

x= 200

Answer 17

Now \[x + 600 = 800\]

Answer 18

Good

Answer 19

:)

Answer 20

Now what?

Answer 21

5%= 600
3%=200

Answer 22

cannot figure out what 5% and 3% would be

Answer 23

cannot be true because if one is 600 and at 5% would be $30
and the other is $200 at 3% which would be $6.00 which equals $36. problem say $28 profit total

Answer 24

No, you switched them around! It's 200 at 5% and 500 at 3%! Just check! It works.

Answer 25

200 + 500 = 700, so that's not correct. Sorry buddy

Answer 26

No, you switched them around! It's 200 at 5% and 600 at 3%! Just check! It works.

Answer 27

If the user is confused about what the solution is, maybe you didn't explain it to him good enough.

Answer 28

so 5% =$10
3% =$18
dont understand why at 3% would have more 5% how do you know which one is 600 and 200

Answer 29

The way you know which belongs to which percent is based on the equation we had: \[.05x+.03y=28\] It is saying 5% belongs to x and 3% belongs to y.

Answer 30

The reason why 3% profit had more total profit is because the initial investment (600) was larger than the other one (200).

Answer 31

Also, an investor would probably invest more in a low risk account, whereas the 5% is likely to be more high risk investment, so you invest less.

Answer 32

Okay thanks