Question

miguel invested his savings in two investment funds. the amount he invested in fund a was $8000 less than the amount he invested in fund b. fund a returned a 4% profit and fund b returned a 7% profit. how much did he invest in fund b, if the total profit from the two funds together was $1220? amount invested in fund b: $

Explanation:

Step1: Define variables

Let $x$ = amount invested in Fund B. Then amount in Fund A = $x - 8000$.

Step2: Set up profit equation

Total profit = 4% of Fund A + 7% of Fund B = $1220$
$$0.04(x - 8000) + 0.07x = 1220$$

Step3: Expand and simplify

$$0.04x - 320 + 0.07x = 1220$$
$$0.11x - 320 = 1220$$

Step4: Solve for x

$$0.11x = 1220 + 320$$
$$0.11x = 1540$$
$$x = \frac{1540}{0.11}$$

Answer:

$14000$