Question

An investor invested a total of $2,700 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit of the investors total profit was $80 how much was invested in each mutual fund

Answer 1

Investment problems usually involve simple annual interest (as opposed to compounded interest), using the interest formula I = Prt, where I stands for the interest on the original investment, P stands for the amount of the original investment (called the "principal"), r is the interest rate (expressed in decimal form