An investor invested a total of $2200 in two mutual funds. One fund earned 9% and the other 3% profit. If the investor's total profit was $120 how much was invested in each mutual fund? The amount invested in the mutual fund that earned 9%? The amount invested in the mutual fund that earned 3%

Question

An investor invested a total of $2200 in two mutual funds. One fund earned 9% and the other 3% profit. If the investor's total profit was $120 how much was invested in each mutual fund?   The amount invested in the mutual fund that earned 9%? The amount invested in the mutual fund that earned 3%

tkhunny · Answer

Did you NAME the two funds?  That will help.

anonymous · Answer

An investor invested a total of $2200 in two mutual funds. One fund earned 9% and the other 3% profit. If the investor's total profit was $120 how much was invested in each mutual fund? 
The amount invested in the mutual fund that earned 9%?
 The amount invested in the mutual fund that earned 3%

tkhunny · Answer

Why did you type it all over again.  Just NAME the two funds.

tkhunny · Answer

Hint.  I might start with:

N = The amount of money invested at 9%

whpalmer4 · Answer

Let's call the fund that earns 9% N, and the fund that earns 3% T.  The return of the funds invested in T will be 0.03T, and the return of the funds invested in N will be 0.09N.  The total return will equal 120.  That gives us the following system of equations:

$$N+T = 2200$$$$0.09N + 0.03T = 120$$Use your favorite method to solve the system of equations.  It may be easier if you multiply the second equation by 100 before starting the work (to clear the decimals).