Question

An amount of $15,000 is invested in a fund that has a return of

Answer 1

Answer:

$12000 should be invested in a fund with a 4% return.

Step-by-step explanation:

Consider the provided information.

An amount of $15,000 is invested in a fund that has a return of  6%.

We need to calculate how much money is invested in a fund with a 4% return if the  total return on both investments is $1380.

Let $x should be invested in a fund with a 4% return.

The above information can be written as:

$1380=15000\times 6\%+x\times 4\%$

$1380=15000\times \frac{6}{100}+x\times \frac{4}{100}$

$1380=150\times6+x\times 0.04$

$1380-900=0.04x\\480=0.04x\\x=12000$

Hence, $12000 should be invested in a fund with a 4% return.