Homework Help: MAT116

Posted by Anonymous on Friday, March 1, 2013 at 9:39pm.

An investor invested a total of $3,400 in two mutual funds. One fund earned 8% profit while the other earned a 3% profit. If the investor's total profit was $202, how much was invested in each mutual fund?

MAT116 - Reiny, Friday, March 1, 2013 at 9:57pm
amount invested at 8% ---- x
amount invested at 3% ---- 3400-x

solve for x

.08x + .03(3400-x) = 202
8x + 3(3400-x) = 20200
....
....
x = ....

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