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Answer:
The base of a power is the factor that is repeatedly multiplied by itself.
Given:
Percent Amount $
Fund A 3% $4000
Fund B 1% x
Total Funds 8% $4000 + x
Find:
Fund B Investment
Solution:
$4000 * .03 + .10 * x = .08% ($4000 + x)
We already know 3 rates and one amount invested
$4000 * .03 + .10 * x = .08% ($4000 + x)
Multiply them out:
120 + (0.10 * x) = 320 + 0.08x
Now, we combine like terms.
.10x – 0.08x = 320 – 120
.02x = 200
Isolate x
x = 200 / 0.02
Divide
x = $10,000
Checking:
($4000 * .03) + (.10 * 10,000) = .08% ($4000 + 10,000)
120 + 1000 = 320 + 800
1120 = 1120
Therefore, fund B has an investment of $10,000.
