SOLUTION: Jim received an inheritance of $15,000. If he wants to invest twice as much money in mutual funds as in bonds, how much should he invest in mutual funds?

Question 1119748: Jim received an inheritance of $15,000. If he wants to invest twice as much money in mutual funds as in bonds, how much should he invest in mutual funds?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
inheritance is 15000.

this is composed of mutual funds and bonds.

he invests twiceas muich mony in mutual funds as bonds.

let x = amount n bonds.

2x = amount in mutual funds.

2x + x = 15000

combine like terms to get:

3x = 15000

solve for x to get x = 15000 / 3 = 5000

2x = 10000.

2x in mutual funds and x in bonds means 10,000 in mutual funds and 5,000 in bonds.

solution is 10,000 is to be invested in mutual funds.

RELATED QUESTIONS
Jim received an inheritance of $15,000. If he wants to invest twice as much money in... (answered by Boreal)

Linda received an inheritance of $15,000. If she wants to invest twice as much money in... (answered by richwmiller)

John received an inheritance of $12,000$12,000 that he divided into three parts and... (answered by Boreal)

David received an inheritance of $50,000. His financial advisor suggests that he invest... (answered by ikleyn)

Mr. Tran has $24,000 to invest, some in bonds and the rest in stocks. He has decided that (answered by ikleyn)

Can someone please help. I cannot figure out the correct formula. Using a Linear... (answered by Theo)

An employee at a major corporation has $2,000 to invest in her 401K. She wants to invest... (answered by MathTherapy)

I am having a bit of trouble with this - any help would be appreciated- Last year,... (answered by stanbon)

This problem is impossible! My pivot elements are not working out correctly. I have it... (answered by richwmiller)