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An investor has money in two investment funds. Last year, the first fund paid a dividend of 8% and the second a dividend of 2%, and the total dividends received were $780. This year, the first fund paid a 10% dividend and the second only 1%, and the total dividends received were $810. How much was invested in each fund?



Answer :

mathstudent55

Answer:

$7000 in first fund; $11,000 in second fund

Step-by-step explanation:

Let x = amount of money invested in first fund.

Let y = amount of money invested in second fund.

0.08x + 0.02y = 780

0.1x + 0.01y = 810

0.04x + 0.01y = 390

-0.1x - 0.01y = -810

-0.06x = -420

x = 7000

0.1x + 0.01y = 810

0.1(7000) + 0.01y = 810

0.01y = 110

y = 11000

Answer: $7000 in first fund; $11,000 in second fund

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