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September 15th, 2009, 12:03 PM  #1 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0  word problem elimination/substitution
Chad invested 3/4 of his $56 000 lottery winnings in two different mutual funds. At the end of the year the Balanced fund had earned 6.5% interest, but the emerging markets fund had lost 3%. If the value of Chads funds increased by 1590, determine the amount invested in each fund. The equations I came up with were x+y=42000 .03x+.65y=1590 Thanks for the help God Bless 
September 15th, 2009, 12:09 PM  #2 
Senior Member Joined: Mar 2009 Posts: 318 Thanks: 0 
I will guess that the variables stand for the amounts invested in each account...? But I don't understand the percentages. The one account lost three percent; it didn't gain three percent. And the other account either earned 65% or else earned 6.5%. I would guess the latter, but your product indicates the former...? 
September 15th, 2009, 12:13 PM  #3 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0  Re: word problem elimination/substitution
x+y=42000 .03x %+.65y %=1590 x=smaller account y=larger times by 100 to get rid of the decimals 3x+65y=159000 Thats what I got. and it didnt work I know the answers are 12000 and 30000 from my book but I dont understand how to get them What would u do? Thanks 
September 15th, 2009, 05:10 PM  #4 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0  Re: word problem elimination/substitution
any 1? 
September 15th, 2009, 06:49 PM  #5 
Senior Member Joined: Jan 2009 From: Japan Posts: 192 Thanks: 0  Re: word problem elimination/substitution
As stapel mentioned, your formula has the Balanced Fund giving a return of 65%. It should be changed from 0.65 to 0.065 to be a gain of 6.5%.

September 16th, 2009, 02:19 PM  #6 
Newbie Joined: Sep 2009 Posts: 9 Thanks: 0 
OH that's why. Thank you very much!
Last edited by skipjack; April 16th, 2015 at 05:28 PM. 
April 12th, 2015, 10:21 AM  #7 
Math Team Joined: Jul 2011 From: Texas Posts: 1,778 Thanks: 775 
First equation ok. Second equation ... 0.97x + 1.065y = 43590 
April 12th, 2015, 10:27 PM  #8 
Newbie Joined: Dec 2008 From: Bahrain Posts: 4 Thanks: 0 
equation 2 can also be .03x + 0.065 y = 1590 
April 13th, 2015, 10:35 PM  #9 
Newbie Joined: Apr 2015 From: india Posts: 1 Thanks: 0 
Amount invested in mutual fund which generated profit 30,000 (Y) which made lose 12000 (X). 

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