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 2 years 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?
 2 years 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?

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JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0The 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.

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0And 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.

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0Total profit = (amount in fund A)(profit percentage from fund A) + (amt in B)(profit % from B)

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0Total profit = $55 = x * 5% + (1300  x) * 3%

Baldwin777
 2 years ago
Best ResponseYou've already chosen the best response.0see I am lost becsuse I keep multiplying it but getting 65 wihch I know is wrong, let me try again

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0You 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.

Baldwin777
 2 years ago
Best ResponseYou've already chosen the best response.0That is where I am confused at, I don't know how to solve for x

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.055 = 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)

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0So: 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

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0It's just a matter of step by step, moving terms around to isolate "x".

JakeV8
 2 years ago
Best ResponseYou've already chosen the best response.0I'm sorry, but I have to run... but I think you have good help arriving :)

Hero
 2 years ago
Best ResponseYou've already chosen the best response.0Total 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

Baldwin777
 2 years ago
Best ResponseYou've already chosen the best response.0Okay so which one is 5% and 3%?
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