$X @ 3%.
$(2600-x) @ 5%.
0.03x + 0.05(2600-x) = $98.
0.03x + 130-0.05x = 98
-0.02x = 98-130 = -32
X = $1600 @ 3%.
2600-x = 2600-1600 = $1000. @ 5%.
An investor invested a total of $2,600 in two mutual funds. One fund earned a 5% profit while the other earned a 3% profit. If the investor's total profit was $98, how much was invested in each mutual fund?
The amount invested in the mutual fund that earned 5% was $ ?
The amount invested in the mutual fund that earned 3% was $ ?
1 answer