Jeremiah invested $10,000 in two mutual funds. One of the funds rose 6% in one year, and the other rose 9% in one year. Jeremiah investment rose a total of $684 in one year.

Answer 1

.09X + ,06(10,000-X) = 685

.03X = 684-600 = 84

X = 84/..03 = $2,800 invested at 9%

10K-X = $7,200 invested at 6%

.684/10K = 0.0684 is the average interest earned

.06 is within .0084 of the average

.09 iw within .0216 of the average

216/84 = 2.57

2.57 x2,800 = 7,200

Answer 2

x=Investment 1 at 6%

y=Investment 2 at 9%

x=10,000-y

x*.06+y*.09=684

(10,000-y)*.06+y*.09=684

600-.06y+.09y=684

.03y+600=684

.03y=84

3y=8,400

y=2,800

x=10,000-y

x=10,000-2800

x=7,200

Interest off of X=432

Interest off of Y=252

Total: 684