Answer:
Jenelle invested $ 13,000 in Fund A and $ 4,000 in Fund B.
Step-by-step 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.
