After one year Jonny's two mutual funds returned a total of $14,370. The first fund returned 2% and the second, in which he had invested $16,000 more, returned 11%. What was the amount of Jonny's original investment? Jonny's original investment was $

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.3: Solve Mixture Applications
Problem 3.65TI: Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other...
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After one year Jonny's two mutual funds returned a total of $14,370. The first fund returned 2% and the second, in which he had invested $16,000 more, returned 11%. What was
the amount of Jonny's original investment?
Jonny's original investment was $
Transcribed Image Text:After one year Jonny's two mutual funds returned a total of $14,370. The first fund returned 2% and the second, in which he had invested $16,000 more, returned 11%. What was the amount of Jonny's original investment? Jonny's original investment was $
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