Answer:
$2000 invested in first fund
$1500 invested in second fund
Step-by-step explanation:
An investor invested a total of $3,500 in two mutual funds.
Let x be the amount invested in first fund
first fund earned a 4% profit (4%= 0.04)
So interest is 0.04x for first fund
Let x be the amount invested in first fund
first fund earned a 4% profit (4%= 0.04)
So interest is 0.04x for first fund
Let y be the amount invested in second fund
second fund earned a =2% profit (2%= 0.02)
So interest is 0.02y for second fund
An investor invested a total of $3,500 in two mutual funds.
So x+y = 3500----> equation 1
y= 3500-x
the investor's total profit was $110
0.04x + 0.02y = 110----> equation 2
Plug in 3500 -x for y
0.04x + 0.02(3500-x) = 110
0.04x + 70 - 0.02x = 110
0.02x + 70 = 110
Subtract 70 onboth sides
0.02x = 40
Divide both sides by 0.02
x= 2000
y= 3500-x
so y= 3500 - 2000 = 1500
$2000 invested in first fund
$1500 invested in second fund
