You invested money in two funds. Last​ year, the first fund paid a dividend of​ 9% and the second a dividend of​ 3%, and you received a total of ​$879.

Question

This year, the first fund paid a 10% dividend and the second only 1%, and you received a total of $839839. How much money did you invest in each fund?

Answer 1

Hi Paola P.,

It would be nice if you proofread your entries before you submitted them. The data you submitted are, I think, a typo for $839? Not $839839?

This is two equations in 2 variables

0.09x + 0.03y = 879

0.10x + 0.01y = 839

So, just cross-multiply by one set of coefficients and eliminate variables one at a time.

Cheers, -- Mr. d.