Mat/116

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An investor invested $3,400 in two mutual funds.One fund earned a 6%profit while the other earned a 3% profit. If the investor's total profit was $144,how much was invested in each mutual fund?

  • Mat/116 -

    Let x=fraction of funds invested with 6% return,
    then
    3400x*0.06+3400(1-x)*0.03=144
    Solve for x.

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