Question

an invested a total of $3,000 in two mutual funds.one find earned a 6% profit while the other earned a 2% profit.if the investors total profit was $132,how much was invested in each mutual fund?

the amount invested in the mutual fund the earned 6% was $____________.

the amount invested in the mutual fund the earned 2% was $____________.

Answer 1

im lost

Answer 2

its solving a system of 2 equations...setting it up can be hard part at first

Answer 3

You need a variable to represent the amount invested at 6%.
Let's call that x.
x amount was invested at 6%.

Since the total amount was 3000, the amount left to be invested at 2% is 3000 - x.

Ok so far?

Answer 4

ok

Answer 5

Now let's see how much interest is earned by each part of the investment.

x invested at 6% earns 6% of x which is 0.06x.

(3000 - x) invested at 2% earns 2% of (3000 - x) which is 0.02(3000 - x).

Answer 6

We know the total amount earned in interest is $132, so we can write the equation:

0.06x + 0.02(3000 - x) = 132

Answer 7

Now you need to solve for x, to find the amount invested at 6%.
Then subtract x from 3000 to find the amount invested at 2%.

Answer 8

x=1800

Answer 9

x=1200

Answer 10

0.06x + 0.02(3000 - x) = 132
0.06x + 60 - 0.02x = 132
0.04x = 72
x = 1800
Correct.

Then
3000 - x
= 3000 - 1800
= 1200

Answer 11

The amount invested at 6% is $1800.
The amount invested at 2% is $1200.