Question

You invested money into two funds. Last year,the first fund paid a dividend of 8% and the second a dividend of 5%, and you received a total of $1330. This year, the first fund paid a 12% dividend and the second only 2% and you received a total of $1500. How much did you invest in each fund?

Answer 1

.08 f + .05 s = 1330

.12 f + .02 s = 1500

solve the system using elimination or substitution

Answer 2

.O8 f + .05 s = $1,300. .12 f + .02 s = $1,500. This should be right.