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 2 years ago
an investor invested a total of 2,900 in two mutual funds and one fund earned a 9% profit while the other earned a 7% profit,if the investor total profit was 233. how much was invested in each mutual profit?
I took 9 divides by 2900 = 322.2 is this right?
then i divided 7 by 233= 33.3 is this right
 2 years ago
an investor invested a total of 2,900 in two mutual funds and one fund earned a 9% profit while the other earned a 7% profit,if the investor total profit was 233. how much was invested in each mutual profit? I took 9 divides by 2900 = 322.2 is this right? then i divided 7 by 233= 33.3 is this right

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Emilyggarza
 2 years ago
Best ResponseYou've already chosen the best response.0i will appreciate anyone that can help me?

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0let x and y be the two amounts

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0x be the amount the gets you a 9% profit and y be the amount that gets you the 7% profit

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0so this means x+y = 2900 is your first equation

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0solve for y to get y = 2900  x

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0since x dollars invested gives you a 9% profit, this means we go from x dollars to 1.09x dollars y dollars invested gives you a 7% profit, this means we go from y dollars to 1.07y dollars they add up to 1.09x + 1.07y

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0it's given that the "total profit was 233", so 1.09x + 1.07y = 233 Now plug in y = 2900  x to get 1.09x + 1.07y = 233 1.09x + 1.07(2900  x) = 233 and solve for x

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0oh wait...hmm i'm thinking of something else, the second equation should be 0.09x + 0.07y = 233 plug in y = 2900  x to get 0.09x + 0.07(2900  x) = 233

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0now solve 0.09x + 0.07(2900  x) = 233 for x

Emilyggarza
 2 years ago
Best ResponseYou've already chosen the best response.0u add 0.09 + 0.07 = 0.16 then u x 2900 =464 so 233x = 464?

Emilyggarza
 2 years ago
Best ResponseYou've already chosen the best response.0i have to get the profit for 9% and also 7 % so I dont think I got it right?

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.00.09x + 0.07(2900  x) = 233 0.09x + 0.07(2900)  0.07x = 233 0.09x + 203  0.07x = 233 0.02x + 203 = 233 0.02x = 233  203 0.02x = 30 x = 30/0.02 x = 1500 So $1500 was invested and it generated a 9% profit

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0use this x value to find y

Emilyggarza
 2 years ago
Best ResponseYou've already chosen the best response.0thank you I got it. thank you so much you helped me a lot. you should honestly be a tutor, to bad you dont live in Boise idaho I would pay you to tutor me.

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0I am a tutor lol, I could tutor online if you want

jim_thompson5910
 2 years ago
Best ResponseYou've already chosen the best response.0that's kinda what I just did right now
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