Answer:
you need to invest $160,000 in fund A and $590,000 in fund B
Explanation:
you have to solve the following equations:
0.016A + 0.066B = $41,500
A + B = $750,000
where:
A = amount invested in fund A
B = amount invested in fund B
A = $750,000 - B
0.016 ($750,000 - B) + 0.066B = $41,500
$12,000 - 0.016B + 0.066B = $41,500
0.05B = $29,500
B = $29,500 / 0.05 = $590,000
A = $750,000 - $590,000 = $160,000
