Question

Deon invested his savings in two investment funds. The amount he invested in Fund A was
4
times as much as the amount he invested in Fund B. Fund A returned a
5%
profit and Fund B returned a
7%
profit. How much did he invest in Fund B, if the total profit from the two funds together was
$1620
?

Answer 1

Please begin by choosing letters to represent your unknown quantities. You could choose x to represent the amount invested in Fund A and y to represent that invested in Fund B.

How are x and y related to one another? Reread the question for the answer to this.

Answer 2

How would I put the problem together?

Answer 3

I understand what the overall problem is asking me, but I don't understand how to know what order to put the equation in in order to solve it.
Could you please help me with that?
Thank you!

Answer 4

I understand what the overall problem is asking me, but I don't understand how to know what order to put the equation in in order to solve it.
Could you please help me with that?
Thank you!

Answer 5

Your math course is likely Algebra. In Algebra we very frequently represent unknown quantities with letters of the alphabet.

I spelled this out for you earlier: "Please begin by choosing letters to represent your unknown quantities. You could choose x to represent the amount invested in Fund A and y to represent that invested in Fund B.

How are x and y related to one another? Reread the question for the answer to this."

Let x be the amount invested in Fund A and y be the amount inv. in Fund B.

In which Fund did this guy invest more money? A or B?

Based upon that, write a single equation that shows how x is related to y.

Please share your result here.

Answer 6

ok one minute, I'll try to put this together.

Answer 7

Do you think the equation would be 4(0.07)+0.05x=1620?

Answer 8

I do appreciate your taking the initiative here, but would still like for you to answer my question. How much $ goes into Fund A? How much into B?

I asked you to write an equation showing how x and y are related. In other words, you need to express one of these in terms of the other.

Answer 9

Oh, ok sorry, It says in the problem that Fund A had a return profit of 5% and Fund B has a return profit of 7%. The total profit from both funds= $1620

Answer 10

I'm not completely sure how to write an equation showing how x and y are related.

Answer 11

"The amount he invested in Fund A was 4 times as much as the amount he invested in Fund B." Since the amount invested in Fund A was x, this sentence translates into the equation x=4y.

Answer 12

Ok, so I think in that case, I think the equation would be 4x(0.07)=1620(0.05)
Is that right?

Answer 13

I mean 4(0.07+x)=1620(0.05)

Answer 14

Note that x and y are DOLLAR AMOUNTS, and that we don't yet have any clue regarding how many dollars are involved.

However, we are told that "Fund A returned a
5%
profit and Fund B returned a
7%
profit," and that the total profit was $1620.

Can you now write an equation showing this fact? This equation will involve solely PROFIT, although x and y (dollar amounts) are included in the equation.

Answer 15

Would the equation be 0.05x+0.07y=1620?

Answer 16

But then what about the 4 times as much as the amount invested in Fund B?
Wouldn't that be 4x?

Answer 17

Nice job on that second equation. We say here, "We have 2 equations in 2 unknown quantities."

Since x=4y, why not substitute 4y for x in your 2nd equation, and then find y? Please show your work.

Answer 18

So 0.05(4x)+0.07y=1620?

Answer 19

But wasn't our first equation "x=4y?" Leave the 0.07y alone; substitute 4y for x in 0.05(x).

Answer 20

So just 0.05(4x)=1620?
Sorry I'm a tiny bit confused as to what to do with the 0.07 now.

Answer 21

Sorry, my computer crashed and had to be rebooted.

You had 0.05x + 0.07y =$1620. But x=4y. Subst. 4y for x:

0.05(4y) + 0.07y = $1620 => 0.20y + 0.07y = $1620.

Solve for y. Next, solve for x, using the y value you've just found.

Answer 22

That's ok, Alright that makes more sense. I'll do that and then tell you what answer I get to see if it's correct.

Answer 23

Great. Very pleased with the way you've stuck with this problem solution. Way to go.

Answer 24

I got y=6,000

Answer 25

So, what would x be? Remember, we have an equation relating x and y already.

Answer 26

So then you would just put in what you get for y into the y in the original problem right?

Answer 27

0.05x+0.07(6,000)=1620?

Answer 28

It doesn't seem right to me, but I got x=24,000

Answer 29

Check your work. x = 4y. If x= 4y, and y = $6000, x is $24000.

Next, determine wehther or not

0.05(24000) + 0.07(6000) = 1620.

Answer 30

I typed in the answer I got for Fund B, and it's correct! They were only looking for how much was invested in Fund B.

Answer 31

And so you chose y=$6,000? Super.

Answer 32

It said it was correct, thank you so much! :)

Answer 33

But now there's a new problem, would you still be able to help me please?

Answer 34

Please post your next problem separately from this one. Thx.

Answer 35

Ok, Thank you!