You invested money in two funds. Last year, the first fund paid a dividend of 9% and the second a dividend of 3%, and you received a total of $1,047.This year, the first fund paid a 10% dividend and the second only 1%, and you received a total of $874. How much money did you invest in each fund? Things did not go quite as planned. You invested $20,680, part of it in a stock that paid 12% annual interest. However, the rest of the money suffered a 5% loss. If the total annual income from both investments was $2060, how much was invested at each rate?

As per Bartleby honor code, when multiple questions are aksed, the expert is required only to solve…

You invested money in two funds. Last year, the first fund paid a dividend of 9% and the second a dividend of 3%, and you received a total of $1,047.This year, the first fund paid a 10% dividend and the second only 1%, and you received a total of $874. How much money did you invest in each fund?

You invested money in two funds. Last year, the first fund paid a dividend of 9% and the second a dividend of 3%, and you received a total of $1,047.This year, the first fund paid a 10% dividend and the second only 1%, and you received a total of $874. How much money did you invest in each fund?

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...

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Things did not go quite as planned. You invested $20,680, part of it in a stock that paid 12% annual interest. However, the rest of the money suffered a 5% loss. If the total annual income from both investments was $2060, how much was invested at each rate?

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