Answer:The amount invested at 10% is $16000
The amount invested in stock is $13000
Step-by-step explanation:
Let x represent the amount of money that Susan invested in the fund that paid a 10% profit.
Let y represent the amount of money that Susan invested in the stock that that suffered a 4% loss.
Total amount invested is 29000. This means that
x + y = 29000
The profit made on the fund is
10/100 × x = 0.1x
The loss made on the stock is
4/100 × y = 0.04y
if her overall net profit was $1,080, it means that
0.1x - 0.04y = 1080 - - - - - - - -1
Substituting x = 29000 - y. It becomes
0.1(29000 - y) - 0.04y = 1080
2900 - 0.1y - 0.04y = 1080
- 0.1y - 0.04y = 1080 - 2900
- 0.14y = - 1820
y = - 1820/ - 0.14 = 13000
Substituting y = 13000 into x = 29000 - y, it becomes
x = 29000 - 13000
x = 16000
