Homework Help: algebra

Posted by Samantha on Friday, November 16, 2012 at 7:15pm.

An investor invested a total of $500 in two mutual funds. One fund earned a 8% profit while the other earned a 4% profit. If the investor's total profit was $32, how much was invested in each mutual fund? The amount invested in the mutual fund that earned 8% was? The amount invested in the mutual fund that earned 4% was?

algebra - Steve, Friday, November 16, 2012 at 8:01pm
if x at 8%, then 500-x at 4%
adding up the interest,

.08x + .04(500-x) = 32.00
x = 300

so,
$300 @ 8%
$200 @ 4%

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