Question

Gunther invested $10000 in two mutual funds. One of the fund rose 6% in one year, and the other rose 9% in one year. Gunther's investment rose a total of $684 in one year. Find the he invested in each fund

Answer 1

Gunther invested $25,200 in the mutual fund that rose 6% and $15,200 in the mutual fund that rose 9%.

Step-by-step explanation:

Let x be the amount invested in the mutual fund that rose 6% and y be the amount invested in the mutual fund that rose 9%.

From the given information, we can set up the following equations:

0.06x + 0.09y = 684 (equation 1)

x + y = 10000 (equation 2)

To solve this system of equations, we can multiply equation 2 by 0.06 and subtract it from equation 1:

0.06x + 0.09y - 0.06x - 0.06y = 684 - 0.06(10000)

0.03y = 144 - 600

0.03y = -456

y = -456 / 0.03

y = -15200

Substituting the value of y back into equation 2, we can solve for x:

x + (-15200) = 10000

x = 10000 + 15200

x = 25200

Therefore, Gunther invested $25,200 in the mutual fund that rose 6% and $15,200 in the mutual fund that rose 9%.