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