Devon invested $10,500 in three different mutual funds. A fund containing large cap stocks made a 8.3% return in 1 yr. A real estate fund lost 13.4% in 1 yr, and a bond fund made 3.4% in 1 yr. The amount invested in the large cap stock fund was three times the amount invested in the real estate fund. If Devon had a net return of $315 across all investments, how much did he invest in each fund? Devon invested S in the large cap fund, S in the real estate fund, and S in the bond fund. X 3

Devon invested $10,500 in three different mutual funds. A fund containing large cap stocks made a 8.3% return in 1 yr. A real estate fund lost 13.4% in 1 yr, and a bond fund made 3.4% in 1 yr. The amount invested in the large cap stock fund was three times the amount invested in the real estate fund. If Devon had a net return of $315 across all investments, how much did he invest in each fund? Devon invested S in the large cap fund, S in the real estate fund, and S in the bond fund. X 3

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter13: Investing In Mutual Funds, Etfs, And Real Estate

Section: Chapter Questions

Problem 7FPE

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