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

This Question is Closed

EmilyggarzaBest ResponseYou've already chosen the best response.0
i will appreciate anyone that can help me?
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
let x and y be the two amounts
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
x be the amount the gets you a 9% profit and y be the amount that gets you the 7% profit
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
so this means x+y = 2900 is your first equation
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
solve for y to get y = 2900  x
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
since 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
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
it'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
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
oh 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
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
now solve 0.09x + 0.07(2900  x) = 233 for x
 one year ago

EmilyggarzaBest ResponseYou've already chosen the best response.0
u add 0.09 + 0.07 = 0.16 then u x 2900 =464 so 233x = 464?
 one year ago

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

jim_thompson5910Best ResponseYou've already chosen the best response.0
0.09x + 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
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
use this x value to find y
 one year ago

EmilyggarzaBest ResponseYou've already chosen the best response.0
thank 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.
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
I am a tutor lol, I could tutor online if you want
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.0
that's kinda what I just did right now
 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.