Let x be the amount invested in the mutual fund and let y be the amount invested in the GIC.
Since the amount at the end of an investment period is `A=P(1+i)` , this means that the interest at the end of the investment period is I=Pi:
The amount of interest at the end of the year for the mutual fund is `I_M=x(0.09)=0.09x` . The amount of interest at the end of the year for the GIC is `I_G=y(0.10)=0.1y` .
We also know that `x+y=4800` , so `y=4800-x` . Since the interest from the mutual fund is $43 less than the interest from the GIC, then we can compare interest amounts to get:
`0.09x=0.1y-43` now sub in what we know
`0.09x=0.1(4800-x)-43` multiply by 100
`9x=48000-10x-4300` move x to left side, simplify right side
`19x=43700` divide by 19
This means that `y=4800-2300=2500` .
The amount invested in mutual funds is $2300 and the amount in å GIC is $2500.