1. Jane invested a total of $18000 in three different mutual funds. She invested in a bond fund that returned 4% in the first year, a growth fund that lost 8% for the year and an international fund that returned 2%. She invested $2000 more in the growth fund than in the other two funds combined. If she had a net loss of -$540 for the year, how much did she invest in each fund?
1. Jane invested a total of $18000 in three different mutual funds. She invested in a bond fund that returned 4% in the first year, a growth fund that lost 8% for the year and an international fund that returned 2%. She invested $2000 more in the growth fund than in the other two funds combined. If she had a net loss of -$540 for the year, how much did she invest in each fund?
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.6: Exponential And Logarithmic Equations
Problem 64E
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