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OpenStudy (anonymous):
An investor invested a total of 2,200 in two mutual funds. One fund earned a 7% profit while the other earned a 3 percent profit. If the investors total profit was $78 how much was invested in each mutual fund. 7%= 3%=
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OpenStudy (mathstudent55):
Total investment: 2200 Invested at 7%: x Invested at 3%: 2200 - x Total profit: $78 0.07x + 0.03(2200 - x) = 78 Solve for x. Then subtract that amount from 2200.
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