3860. How much she st in each fund?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Leni invested total of
Php50,000 at two different
investment funds – bond and
balanced fund. The bond fund
earns a yearly rate of 7% and
the balanced fund at a yearly
rate of 9%. The total interest
earned for one year was
Php3860. How much she
invest in each fund?
Transcribed Image Text:Leni invested total of Php50,000 at two different investment funds – bond and balanced fund. The bond fund earns a yearly rate of 7% and the balanced fund at a yearly rate of 9%. The total interest earned for one year was Php3860. How much she invest in each fund?
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