Question

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 ​$858. This​ year, the first fund paid a​ 10% dividend and the second only​ 1%, and you received a total of ​$867. How much money did you invest in each​ fund?

Answer 1

The amount that was invested in the first fund is $8300.

The amount that was invested in the second fund is 3700.

What are the linear equations that represent the question?

0.09a + 0.03b = $858 equation 1

0.1a + 0.01b = $867  equation 2

Where:

• a = amount invested in the first fund
• b = amount invested in the second fund

How much was invested in the second fund?

Multiply equation 2 by 0.9:

0.09a + 0.009b = 780.30 equation 3

Subtract equation 1 from equation 3

0.021b = 77.70

Divide both sides by 0.021

b = $3700

How much was invested in the first fund?

Substitute for b in equation 1: 0.09a + 0.03(3700) = $858

0.09a + 111 = 858

a = (858 - 111) / 0.09

a = $8300

To learn more about simultaneous equations, please check: https://brainly.com/question/25875552

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