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kevin invested part of his $5000 bonus in a certificate of deposit (cd) that paid 2% annual simple interest, and the remainder in a mutual fund that paid 4% annual simple interest. if his total interest for that year was $140.00, how much did kevin invest in the mutual fund?

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khuranashilpa76

A mutual fund is a pooled collection of assets that invests in shares, bonds, and other securities. while you buy a mutual fund, you get extra various preserving than you will with a man or woman protection, and you can revel in the convenience of computerized making an investment if you meet the minimum investment requirements and the mutual fund investment is underneath

solution:-

(5000 - x)(0.02)(1) + (x)(0.04)(1) = 190.

Mutual funds make money by using charging buyers a percent of property beneath control and might also price an income fee (load) upon fund purchase or redemption. Fund charges referred to as the expense ratio, can vary from near 0% to extra than 2% relying on the fund's working fees and funding fashion.

A mutual fund range let you pool your money with other buyers to at the same time buy stocks, bonds, and other investments. they are run by means of expert cash managers who determine which securities to shop for shares, bonds, and many others and sell them. You get publicity for all of the investments inside the fund and any earnings they generate.

Learn more about Mutual funds here:-https://brainly.com/question/4521829

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