Question

an investor invested a total of 2000 in two mutual funds one fund earned an 8% profit while the other earned a 3% profit. if the investors total profit is $150 how much was invested in total on the two mutual funds.
what is he equation i need to solve the problem?

Answer 1

You invest X in the 7% fund and 2200-X in the 4% fund:
.07X + .04(2200-X) = 115
.03X = 115-88 = =27
X = 27/.03 = 900
So, $900 invested @ 7% and $1300 @ 4%

Answer 2

did that help

Answer 3

yes, thank you!