Mary H. answered • 02/10/18
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This is a problem involving systems of equations.
Let x = the stocks at 6% interest
y = the mutual funds at 7%
total invested is 10,000
x+y = 10.000
total earned is 655
.06x + .07 y = 655
6x + 7 y = 65,500
Substitution method
x+y = 10,000
x = (10,000 - y)
6(10,000 -y) + 7y = 65500
60,000 -6y +7y = 65,500
y = 5,500
Substitute back in to solve for x and you have the amount invested in stocks and in mutual funds. Multiply the investment by the percent interest and you get the individual results.
Take your time, and you will get it!
Mary
Mary H.
Sophia,
Do you understand how I got the equations, but not how I solved them, or do you not understand how to solve? Or is it finishing up once you find one value? Can you be more specific?
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02/10/18
Mary H.
She has 10,000 to invest and two things to invest it in. Let's say that x is the amount she puts into the stocks. Y is the amount she puts into the mutual funds. So if I add those two together, I have to get 10,000. So... x + y = 10,000 Are you with me so far?
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02/10/18
Sophia T.
02/10/18