Mr. Coté invested 3 times as much money in a stock fund that...

Mr. Coté invested 3 times as much money in a stock fund that returned $8 \%$ interest after 1 yr as he did in a bond fund that earned $5 \%$ interest. If his total earnings came to $\$ 435$ after 1 yr, how much did he invest in each fund?

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Key Concepts

Algebraic Manipulation

This concept includes techniques such as substituting one variable in terms of another, combining like terms, and isolating variables to solve equations. It is crucial when using ratios and percentages to determine exact investment amounts or other related quantities.

System of Linear Equations

Financial problems often require setting up linear equations based on the relationships and conditions provided. This concept involves forming and solving equations where multiple unknowns are connected by linear relationships, allowing one to determine the value of each unknown.

Ratio and Proportion

This concept involves understanding relationships between quantities where one is a multiple of the other. In many investment problems, one amount is described as a multiple of another, which helps in establishing the relationship between different investment amounts.

Percentage Calculation

This concept is used to convert percentage rates into decimal form to calculate the returns on investments. It is essential for determining how much profit is earned based on the given interest rates applied to the amounts invested.

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