College Algebra

Question

After one year​ Jonny's two mutual funds returned a total of ​$13,480. The first fund returned 15​% and the​second, in which he had invested $4000 more, returned 1​%.

What was the amount of​ Jonny's original​ investment?

Answer 1

.15x + .01(x+4,000) = $13,480

.15x +.01x = 13,480 - 40 = 13440

.16x = 13,440

x = 13,440/.16 = $84,000 invested at 15%

x+4,000 = $88,000 invested at 1%

x+x+4 = $172,000 = total investment