Suzanne Invested $14,300 in Two Mutual Fund Accounts: the Abernathy

question 13

Essay

Suzanne invested $14,300 in two mutual fund accounts: the Abernathy Fund and the Brice Fund. During the subsequent year, The Abernathy Fund earned 4% and the Brice account earned 5%. At the end of the year, the total interest earned was $672. How much did Suzanne invest in each fund?

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Definitions:

Coconuts

Often used in economic models and examples, referring to a simplistic commodity to illustrate principles of trade, investment, or resource allocation.

Equilibrium

A condition or state in which economic forces such as supply and demand are balanced, resulting in a stable market.

Coconuts

A large tropical fruit with a hard shell, edible white flesh, and clear liquid, often used in food and drink preparations.

Tax Imposed

An obligatory financial charge or other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.