Question

an investor invested a total of 2,900 in two mutual funds and one fund earned a 9% profit while the other earned a 7% profit,if the investor total profit was 233. how much was invested in each mutual profit?
I took 9 divides by 2900 = 322.2 is this right?
then i divided 7 by 233= 33.3 is this right

Answer 1

i will appreciate anyone that can help me?

Answer 2

To hard

Answer 3

let x and y be the two amounts

Answer 4

x be the amount the gets you a 9% profit and y be the amount that gets you the 7% profit

Answer 5

so this means

x+y = 2900

is your first equation

Answer 6

solve for y to get

y = 2900 - x

Answer 7

since x dollars invested gives you a 9% profit, this means we go from x dollars to 1.09x dollars


y dollars invested gives you a 7% profit, this means we go from y dollars to 1.07y dollars


they add up to

1.09x + 1.07y

Answer 8

it's given that the "total profit was 233", so

1.09x + 1.07y = 233

Now plug in y = 2900 - x to get

1.09x + 1.07y = 233

1.09x + 1.07(2900 - x) = 233

and solve for x

Answer 9

oh wait...hmm i'm thinking of something else, the second equation should be

0.09x + 0.07y = 233

plug in y = 2900 - x to get

0.09x + 0.07(2900 - x) = 233

Answer 10

now solve 0.09x + 0.07(2900 - x) = 233 for x

Answer 11

u add 0.09 + 0.07 = 0.16 then u x 2900 =464 so 233x = 464?

Answer 12

i have to get the profit for 9% and also 7 % so I dont think I got it right?

Answer 13

0.09x + 0.07(2900 - x) = 233

0.09x + 0.07(2900) - 0.07x = 233

0.09x + 203 - 0.07x = 233

0.02x + 203 = 233

0.02x = 233 - 203

0.02x = 30

x = 30/0.02

x = 1500

So $1500 was invested and it generated a 9% profit

Answer 14

use this x value to find y

Answer 15

thank you I got it. thank you so much you helped me a lot. you should honestly be a tutor, to bad you dont live in Boise idaho I would pay you to tutor me.

Answer 16

I am a tutor lol, I could tutor online if you want

Answer 17

that's kinda what I just did right now