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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?
 one year ago
 one year ago
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?
 one year ago
 one year ago

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JakeV8Best ResponseYou've already chosen the best response.0
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.
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
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.
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
Total profit = (amount in fund A)(profit percentage from fund A) + (amt in B)(profit % from B)
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
Total profit = $55 = x * 5% + (1300  x) * 3%
 one year ago

Baldwin777Best ResponseYou've already chosen the best response.0
see I am lost becsuse I keep multiplying it but getting 65 wihch I know is wrong, let me try again
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
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.
 one year ago

Baldwin777Best ResponseYou've already chosen the best response.0
That is where I am confused at, I don't know how to solve for x
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
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)
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
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
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
It's just a matter of step by step, moving terms around to isolate "x".
 one year ago

JakeV8Best ResponseYou've already chosen the best response.0
I'm sorry, but I have to run... but I think you have good help arriving :)
 one year ago

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

Baldwin777Best ResponseYou've already chosen the best response.0
Okay so which one is 5% and 3%?
 one year ago
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