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March 30, 2017

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An investor invested a total of $1400 in two mutual funds. One fund earned a 6% profit while the other earned a 2% profit. If the investor's total profit was $72, how much was invested in each mutual fund?

  • Algebra - ,

    add up the interest earned:

    .06x + .02(1400-x) = 72
    x = 1100

    so, 1100 at 6% and 300 at 2%

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