Question
an investor invested $800 in two mutual funds. One fund earned 7% and the other earned 3% profit. If the total profit was $48, how much was invested in each mutual fund.
Answers
Reiny
amount at 7% --- x
amount at 3% --- 800-x
solve for x:
.07x + .03(800-x) = 48
amount at 3% --- 800-x
solve for x:
.07x + .03(800-x) = 48