Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
mystique2626
Group Title
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
mystique2626 Group Title
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

This Question is Closed

viktor.ray Group TitleBest 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

mystique2626 Group TitleBest ResponseYou've already chosen the best response.0
Thank you that makes total sense now that I see it
 one year ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.