16000000 to a 5/3 ratio.

Question

By charter, a mutual fund must invest its funds in bonds and stocks in a 5 to 3 ratio, respectively. If the mutual fund has 16000000$ then how much is invested in bonds?

Answer 1

Ethan, a 5:3 ratio means there are 8 total parts.

 

16,000,000/8 = 2,000,000

 

Five of those parts are in bonds.

 

5(2,000,000) = 10,000,000