Question

Gunther invested $10,000 in two mutual funds. One of the funds rose 6% in one year and the other rose 9% in one year. If his investment rose a total of $684 in one year, how much did he invest in each mutual fund?

Answer 1

Answer:

$7,200: the funds rose 6% in one year

$2,800: the other fund rose 9% in one year

Step-by-step explanation:

X: the funds rose 6% in one year

Y: the other fund rose 9% in one year

X + Y = 10000

0.06X + 0.09Y = 684

Substitute X = 10000 - Y

0.06(10000 - Y) + 0.09Y = 684

600 + 0.03Y = 684

0.03Y = 84

Y = 2800

X = 10000 - 280

= 7200

Answer 2

Answer:

$7200 in the fund rose 6% n $2800 in the fund rose 9%

Step-by-step explanation:

let x be the amount in the fund rose 6%

gain in one year=x*6%=0.06x

total amount is 10000

so amount in the fund rose 9% = 10000-x

gain in one year=(10000-x)*9%=900-0.09x

total gain=0.06x+900-0.09x=900-0.03x

=684

900-684=0.03x

0.03x=216

x=7200

the other fund amount=10000-7200=2800