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An investor invested a total of $2500 in two mutual funds. One fund earned a profit of 4% and the other earned a 2% profit. If the investor's total profit was $70 how much was invested in to each fund?
 one year ago
 one year ago
An investor invested a total of $2500 in two mutual funds. One fund earned a profit of 4% and the other earned a 2% profit. If the investor's total profit was $70 how much was invested in to each fund?
 one year ago
 one year ago

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viktor.rayBest ResponseYou've already chosen the best response.0
x,y= Investments in each of the firms x+y=2500 (i) also, given 4% of x + 2% of y =70 > 0.04x + 0.02y=70 (ii) Multiplying (i) by 0.02 0.02x + 0.02y= 50 (iii) Subtracting (iii) from (ii), 0.02x=20 >x=1000 so y=1500 Answer: $1000 invested in 4% profit fund and $1500 invested in 2% profit fund
 one year ago

mystique2626Best ResponseYou've already chosen the best response.0
Thank you that makes total sense now that I see it
 one year ago
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