Thomas is a designer for Hull Toys. He is married, earns $526 weekly, and claims no allowances. His gross pay to date this year
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Answer:
Step-by-step explanation:
The given equation is :
N=S(P-V)-F ...(1)
We need to solve the above equation for S.
Adding F both sides in equation (1)
N+F=S(P-V)-F+F
N+F=S(P-V)
Dividing both sides by (P-V). So,
So, the above is the expression for S.
The amount invested in the mutual fund that earned 5% is $ 1000
The amount invested in the mutual fund that earned 3% is $ 1800
<h3><u>Solution:</u></h3>Given that , An investor invested a total of $2,800 in two mutual funds
Let the amount invested in 1st mutual fund be $n
Then the amount invested in the other mutual fund will be $(2800 - n)
One fund earned 5% profit while the other earned 3% profit
Then, profit earned by 1st fund ⇒ 5% of n
And profit earned by 2nd fund ⇒ 3% of 2800 – n
Investor's total profit was $104
Now, we know that,
<em>total profit = profit earned on 1st fund + profit earned on 2nd fund </em>
104 = 5% of n + 3% of ((2800 - n)
So, he invested $ 1000 in 1st fund at 5 % profit
And 2800 – n = 2800 - 1000 = $ 1800 in 2nd fund at 3 % profit