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Juan has $35,000 to invest and can invest in two different funds. She invests some of the money at 8% per year and the rest at 6% per year. How much should Juan invest in each fund in order to earn $2,890 from both funds per year? (Round answers to dollars.)

User Missy
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answer!!!

so basically:

To determine how much Juan should invest in each fund, we can set up a system of equations based on the given information!!

Let's assume Juan invests x dollars at 8% per year and (35000 - x) dollars at 6% per year.

According to the question, the total amount earned from both funds per year is $2,890.

So, we can set up the following equation:

0.08x + 0.06(35000 - x) = 2890

Simplifying this equation, we have:

0.08x + 2100 - 0.06x = 2890

Combining like terms, we find:

0.02x + 2100 = 2890

Subtracting 2100 from both sides of the equation, we get:

0.02x = 790

Dividing both sides of the equation by 0.02, we find:

x = 39500

Therefore, Juan should invest $39,500 at 8% per year and the remaining amount of $35,000 - $39,500 = -$4,500 (negative value indicates a borrowing) at 6% per year.

Since having a negative investment is not possible in this scenario, we need to adjust our initial assumption.

Since the total amount invested cannot exceed $35,000, we need to find another solution.

By investing $35,000 at 6% per year, Juan would earn $35,000 * 0.06 = $2,100 per year.

To earn the remaining $2,890 - $2,100 = $790, Juan would need to invest that amount at 8% per year.

Therefore, Juan should invest $35,000 at 6% per year and $790 at 8% per year in order to earn $2,890 from both funds per year.

hope this helps ily bye !! - aydn

User Joatis
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