Sheri has $15,200 to invest in mutual funds and in bonds. Sheri has selected a mutual fund that earns 1% a year and a bond that earns 4% a year. If she wants to earn $548 at the end of the first year, how much does she need to invest into each type of account?

Sheri will need to invest $_in the bond and $_in the mutual fund.

Question

07-11-2022
Mathematics

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Sheri has $15,200 to invest in mutual funds and in bonds. Sheri has selected a mutual fund that earns 1% a year and a bond that earns 4% a year. If she wants to earn $548 at the end of the first year, how much does she need to invest into each type of account?

Sheri will need to invest $_in the bond and $_in the mutual fund.

Sagot :

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