Investing: Inverse Mutual Funds Inverse mutual funds, sometimes referred to as "bear market" or "short" funds, seek to deliver the opposite of the performance of the index or category they track, and can thus be used by traders to bet against the stock market. This question is based on the following table, which shows the performance of three such funds as of February 27, 2015.† Year-to-date Loss SHPIX (Short Smallcap Profund) 4% RYURX (Rydex Inverse S&P 500) 3% RYCWX (Rydex Inverse Dow) 6% You invested a total of $8,000 in the three funds at the beginning of 2015, including an equal amount in RYURX and RYCWX. Your year-to-date loss from the first two funds amounted to $220. How much did you invest in each of the three funds?
Investing: Inverse Mutual Funds Inverse mutual funds, sometimes referred to as "bear market" or "short" funds, seek to deliver the opposite of the performance of the index or category they track, and can thus be used by traders to bet against the stock market. This question is based on the following table, which shows the performance of three such funds as of February 27, 2015.† Year-to-date Loss SHPIX (Short Smallcap Profund) 4% RYURX (Rydex Inverse S&P 500) 3% RYCWX (Rydex Inverse Dow) 6% You invested a total of $8,000 in the three funds at the beginning of 2015, including an equal amount in RYURX and RYCWX. Your year-to-date loss from the first two funds amounted to $220. How much did you invest in each of the three funds?
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter9: Systems Of Equations And Inequalities
Section: Chapter Questions
Problem 72RE
Related questions
Question
Investing: Inverse Mutual Funds Inverse mutual funds, sometimes referred to as "bear market" or "short" funds, seek to deliver the opposite of the performance of the index or category they track, and can thus be used by traders to bet against the stock market. This question is based on the following table, which shows the performance of three such funds as of February 27, 2015.†
| Year-to-date Loss | |
|---|---|
| SHPIX (Short Smallcap Profund) | 4% |
| RYURX (Rydex Inverse S&P 500) | 3% |
| RYCWX (Rydex Inverse Dow) | 6% |
You invested a total of $8,000 in the three funds at the beginning of 2015, including an equal amount in RYURX and RYCWX. Your year-to-date loss from the first two funds amounted to $220. How much did you invest in each of the three funds?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage