Investment algebra problem... Please help!!!

[mllegypsy]

This is the problem:

"Of the $50,000 that Natasha pocketed on her last real estate deal, $20,000 went to charity. She invested part of the remainder in Dreyfus New Leaders Fund with an annual yield of 16% and the rest in Templeton Growth Fund with an annual yield of 25%. If she made $6060 on these investments in 1 year, then how much did she invest in each fund?"

Now, the beginning of the problem leads me to believe that $30,000 is the remainder that she split and invested into these two funds. I'm just completely stuck as to how to figure this out without using two variables. If I had help getting the right formula, I'm sure I could get the answer. I'm just having a tough time getting started.

I have to turn this in tonight... Any help would be greatly appreciated.

Thanks so much!

 

[Deleted member 4993]

This is the problem:

"Of the $50,000 that Natasha pocketed on her last real estate deal, $20,000 went to charity. She invested part of the remainder in Dreyfus New Leaders Fund with an annual yield of 16% and the rest in Templeton Growth Fund with an annual yield of 25%. If she made $6060 on these investments in 1 year, then how much did she invest in each fund?"

Now, the beginning of the problem leads me to believe that $30,000 is the remainder that she split and invested into these two funds. I'm just completely stuck as to how to figure this out without using two variables. If I had help getting the right formula, I'm sure I could get the answer. I'm just having a tough time getting started.

I have to turn this in tonight... Any help would be greatly appreciated.

Thanks so much!

Assume,

the amount invested in Dreyfus fund = D

the amount invested in Templeton fund = 30000 - D

(one variable....)

 

[mllegypsy]

Thanks! That's actually what I had, but I kept 2nd guessing myself. So, how would I incorporate the $6,060 or the two interest rates? What I originally had was similar to that formula, but I ended up with a number bigger than 30,000. I had: 0.016x + .25(30000-x) = 6060, but I ended up with x = 82,071, which is impossible seeing as that number is bigger than 30,000. I'm really confusing myself with this one...

 

[Deleted member 4993]

Thanks! That's actually what I had, but I kept 2nd guessing myself. So, how would I incorporate the $6,060 or the two interest rates? What I originally had was similar to that formula, but I ended up with a number bigger than 30,000. I had: 0.016x + .25(30000-x) = 6060, but I ended up with x = 82,071, which is impossible seeing as that number is bigger than 30,000. I'm really confusing myself with this one...

That equation should be:

\(\displaystyle 0.16*x \ + \ 0.25*(30000 \ - \ x) \ = \ 6060\)

If you are still having trouble - show your steps, so that we can correct it.