1. Questions

Algebra

An investor invested a total of $2000 in two mutual funds. One fund earned 9% profit while the other earned a 6% profit. If the investor's total profit was $129, how much was invested in each mutual fund?

  1. 👍
  2. 👎
  3. 👁
  4. ℹ️
  5. 🚩
Nixie

  1. let one be $x
    the other $ (2000-x)
    .09x + .06(2000-x) = 129
    times 100
    9x + 6(2000-x) = 12900
    9x + 12000 - 6x = 12900
    3x = 900
    x=300

    $300 was invested at 9%, and 1700 was invested at 6%

    check:
    .09(300) + .06(1700) = 129

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩
    Reiny

Respond to this Question

First Name

Your Response

Similar Questions

  1. Algebra

    Dale invested his savings in two investment funds. The $12,000 that he invested in Fund A returned a 1% profit. The amount that he invested in Fund B returned a 6% profit. How much did he invest in Fund B, if both funds together

  2. College Algebra

    John invested his savings in two investment funds. The $12,000 that he invested in Fund A returned a 3% profit. The amount that he invested in Fund B returned a 10% profit. How much did he invest in Fund B, if both funds together

  3. math

    Carlos invested his savings in two investment funds. The amount he invested in Fund A was $8000 less than the amount he invested in Fund B. Fund A returned a 8% profit and Fund B returned a 4% profit. How much did he invest in

  4. Math

    John invested his savings in two investment funds. The amount he invested in Fund A was $8000 less than the amount he invested in Fund B. Fund A returned a 4% profit and Fund B returned a 8% profit. How much did he invest in Fund

  1. Statistics

    In a study by Peter D. Hart Research Associates for the Nasdaq Stock Market, it was determined that 20% of all stock investors are retired people. In addition, 40% of all adults invest in mutual funds. Suppose a random sample of

  2. Personal Finance

    Jarell Tarver invested $20,000 in the Boyd Kern Mutual Fund (Type A). The net asset value is $21.34 per share. The fund is front-loaded with a loading rate of 5.25%. What is the loading charge?

  3. math

    In how many ways can an investor select five mutual funds for his investment portfolio from a recommended list of nine mutual funds?

  4. Math

    Henry invests $5,000 in a mutual fund with an annual interest rate of 7.5%. He also has a 4-yr, $10,000 loan at 3.75%. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan?

  1. Algebra investment

    An investor had a total of 25,000 put into a portfolio of stocks, bonds, and mutual funds. In one year, he earned 8% on the stock investment, 10% on the bond investment and 6% on the mutual funds investment. The annual(simple

  2. math,

    . Mr. David, an individual investor, has $70,000to divide among several investments. The alternative investments are municipal bonds with an 8.5% annual return, certificates of deposit with a 5% return, treasury bills with a 6.5%

  3. personal finance

    Which of the following statements is FALSE: A) Individual investors should be involved in choosing a mutual fund because they know how the objective of a mutual fund match their own investement objectives B)Professional fund

  4. statistics

    {Exercise 3.55} Morningstar tracks the total return for a large number of mutual funds. The following table shows the total return and the number of funds for four categories of mutual funds (Morningstar Funds500, 2008). a. Using

View more similar questions or ask a new question.