Hello, Baginoman!

Welcome aboard!

There is no nice formula for this,

. . but we canthinkour way through it.

A broker invested $24,000 in two mutual funds,

one earning 9% annual interest and the other earning 14%.

After 1 year, his combined interest is $3,135.

How much was invested at each rate?

Let = amount invested at 9%.

Then = amount invested at 14%.

He invested dollars at 9%.

. . The interest is: . dollars.

He invested dollars at 14%.

. . The interest is: . dollars.

Hence, his total interest is: . dollars.

But we are told that his total interest is .

There is our equation! . . .

Got it?