Question

PLEASE! TEST QUESTION

Jenelle invested $17000 in two mutual funds. Fund A earned 4% profit during the first year, while Fund B suffered a 1.5% loss. If she received a total of $460 profit, how much had she invested in each mutual fund?

Jenelle invested $_____ into Fund A.
Jenelle invested $_____ into Fund B.

Answer 1

Jenelle invested $ 13,000 in Fund A and $ 4,000 in Fund B.

Explanation:

Given that Jenelle invested $ 17000 in two mutual funds, and Fund A earned 4% profit during the first year, while Fund B suffered a 1.5% loss, if she received a total of $ 460 profit, to determine how much had she invested in each mutual fund, the following calculation must be performed:

17000 x 0.04 - 0 x 0.015 = 680

15000 x 0.04 - 2000 x 0.015 = 570

10,000 x 0.04 - 7000 x 0.015 = 295

12500 x 0.04 - 4500 x 0.015 = 432.5

13000 x 0.04 - 4000 x 0.015 = 460

Therefore, Jenelle invested $ 13,000 in Fund A and $ 4,000 in Fund B.