An investor invested a total of $1300 in two mutual funds. One fund earned a 6% profit while the other earned a 4% profit. If the investor's total profit was $56, how much was invested in each mutual fund?

the amount invested that earned 6% is?
the amount invested that earned 4% is?

Question

An investor invested a total of $1300 in two mutual funds. One fund earned a 6% profit while the other earned a 4% profit. If the investor's total profit was $56, how much was invested in each mutual fund?

the amount invested that earned 6% is?
the amount invested that earned 4% is?

anonymous · Answer

you have a system of eqns, trick is always setting the thing up
x + y = 1300
0.06x + 0.04y = 56
now you can solve using whichever method you want, prob substitution of one into the other will allow you to solve it the simplest and quickest...

anonymous · Answer

this is as far as i gotten the rest of the formula is confusing me

anonymous · Answer

Interest on both investments 
6.00% x + 4.00% y= 56 
Multiply by 100 
6 x + 4 y= 5600.00

anonymous · Answer

hello?

anonymous · Answer

solve that for y then sub back into x + y =1300
y= 1400 - (3/2)x
so
x + (1400 - (3/2)x) = 1300  ---> x=200 therefore y =?

anonymous · Answer

hope that helps! :)

anonymous · Answer

you really don't need two variables. 
if the amount invested at 6% is $x$ then the amount invested at 4% must be $1300-x$ since the total was $1300

anonymous · Answer

you can go right to 
$$.06x+.04(1300-x)=56$$ or better still 
$$6x+4(1300-x)=5600$$

anonymous · Answer

you good from there?