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Math Help - Probably a pretty simple one but I'm missing something

  1. #1
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    Probably a pretty simple one but I'm missing something

    Hey everybody,

    I'm obviously not thinking correctly with this and missing something or other so hoped someone could help get me on the right track...

    Erin has invested in both an equity mutual fund and a bond mutual fund. Her financial advisor told her that her overall portfolio rose in value by 1.1% last year. Erin noted in the newspaper that the equity fund lost 3.3% last year while the bond fund rose 7.7% To the nearest 0.1%, what percentage of her portfolio was in the equity fund at the beginning of the year?
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  2. #2
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    Call the portion of her portfolio in the equity fund x, so that 1-x is the portion in the bond fund.

    The growth of the equity portion plus the growth of the bond portion equals the growth of the whole portfolio:
    (-3.3%)x + (7.7%)(1-x) = (1.1%)(1)

    Post again if you still have trouble.
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  3. #3
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    ahh nice, turns out I was on the right track to begin with. Thanks!
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