Kelly invested her savings of $4800. she invested part in mutual funds, at 9% per year, and the rest in gic's at 10% per year. at the end of the year, the interest from the mutual investments was $43 less than the interest from the gic investment. how much was invested in each type of investment?

Total money invested by Kelly = 4800

Let the amount she invested in mutual funds = x

Let the amount she invested in GIC's = y

So, x + y = 4800        (1)

Interest in mutual funds = 9% of x =

Interest in GIC investment = 10% of y =

It is given that, at the end of one year, the interest from mutual funds is $43 less than that of from GIC's.

So,

9x - 10y = -4300      (2)

Multiplying (1) by 10 and adding (1) and (2), we get,

19x = 43700

= 2300

x + y = 4800

2300 + y = 4800

y = 4800 - 2300

= 2500

Hence, amount invested in mutual funds is $2300 and the money invested in GIC investment is $2500.

(3x-8) or (3x+8)

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