Open study

is now brainly

With Brainly you can:

  • Get homework help from millions of students and moderators
  • Learn how to solve problems with step-by-step explanations
  • Share your knowledge and earn points by helping other students
  • Learn anywhere, anytime with the Brainly app!

A community for students.

An investor invested a total of $1,300 in two mutal funds. One fund earns a 5% profit while the other earned a 3% profit. If the investor's total profit was $55, how much was invested in each mutal fund?

Mathematics
See more answers at brainly.com
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.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions

The total amount of money invested is $1300, so if "x" dollars go into the first fund, then "1300 - x" dollars go into the second fund.
And you are given the total profit as $55, so let's write an equation that uses the profit information... the total profit and the amount of profit earned in each fund.
Total profit = (amount in fund A)(profit percentage from fund A) + (amt in B)(profit % from B)

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

Total profit = $55 = x * 5% + (1300 - x) * 3%
see I am lost becsuse I keep multiplying it but getting 65 wihch I know is wrong, let me try again
would it be 39.05?
You need to solve for x...that's the amount in the 5% account. Then subtract that x amount from 1300 to get the amount in the 3% account.
That is where I am confused at, I don't know how to solve for x
55 = x * 5% + (1300 - x) * 3% To make it easier, why don't you multiply everything through by 100 to get rid of the percentages... 100 * 55 = 100 * x * 5% + 100 * (1300 - x) * 3% Simplifying (on the right side, 100 times the percentage leaves just 5 and 3): 5500 = 5x + (1300 - x)(3)
So: 5500 = 5x + (1300 - x)(3) Then simplify the last part by distributing the 3: 5500 = 5x + (3900 - 3x) And simplify again: 5500 - 3900 = 2x Then: 1600 = 2x which means: 800 = x
It's just a matter of step by step, moving terms around to isolate "x".
I'm sorry, but I have to run... but I think you have good help arriving :)
Thank you
Total amount invested x + y = 1300 Total profit: .03x + .05y = 55 Solve using systems of equations: x + y = 1300 .03x + .05y = 55 .03x + .03y = 39 .03x + .05y = 55 .03x + .05y = 55 -.03x - .03y = -39 .02y = 16 y = 16/.02 y = 800 x = 500
Okay so which one is 5% and 3%?
lol ok

Not the answer you are looking for?

Search for more explanations.

Ask your own question