Question Help 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 $1,005. 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? How much money was invested in the first fund?

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter10: Systems Of Equations And Inequalities
Section10.CR: Chapter Review
Problem 26E
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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 $1,005. 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?
How much money was invested in the first fund?
Transcribed Image Text:Question Help 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 $1,005. 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? How much money was invested in the first fund?
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