anonymous
  • anonymous
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?
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
jamiebookeater
  • jamiebookeater
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
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
anonymous
  • anonymous
Thank you that makes total sense now that I see it

Looking for something else?

Not the answer you are looking for? Search for more explanations.