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MAT116

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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 -

    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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