Can someone please help on the question, thanks.
1 answer:
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Answer:
The amount invested in the mutual fund that earned 5% was $1,000
The amount invested in the mutual fund that earned 3% was $1,800
Step-by-step explanation:
Let
x ----> the amount invested in the mutual fund that earned 5%
y ----> the amount invested in the mutual fund that earned 3%
we know that
---->
----> equation A
----> equation B
Solve the system by substitution
substitute equation A in equation B
Solve for x
<em>Find the value of y</em>
therefore
The amount invested in the mutual fund that earned 5% was $1,000 and the amount invested in the mutual fund that earned 3% was $1,800