Devon invested $ 8000 in three different mutual funds. A fund containing large cap stocks made 6.2 % return in 1 yr . A real estate fund lost 13.5 % in 1 yr, and a bond fund made 4.4 % in 1 yr . The amount invested in the large cap stock fund was twice the amount invested in the real estate fund. If Devon had a net return of $ 66 across all investments, how much did he invest in each fund? (See Example 6)
Devon invested $ 8000 in three different mutual funds. A fund containing large cap stocks made 6.2 % return in 1 yr . A real estate fund lost 13.5 % in 1 yr, and a bond fund made 4.4 % in 1 yr . The amount invested in the large cap stock fund was twice the amount invested in the real estate fund. If Devon had a net return of $ 66 across all investments, how much did he invest in each fund? (See Example 6)
Solution Summary: The author calculates the amount of money invested by Devon in each fund, based on the data provided.
Devon invested
$
8000
in three different mutual funds. A fund containing large cap stocks made
6.2
%
return in
1
yr
. A real estate fund lost
13.5
%
in
1
yr,
and a bond fund made
4.4
%
in
1
yr
.
The amount invested in the large cap stock fund was twice the amount invested in the real estate fund. If Devon had a net return of
$
66
across all investments, how much did he invest in each fund? (See Example 6)
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