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since toni brookfield is retired, she has used income from her investment in the alger mid cap growth fund to supplement her other retirement income. during one three-month period, the fund grew by $1,450. if she withdraws 70 percent of the growth, how much will she receive?

Answer :

Toni Brookfield will receive an amount of $1015 from her investment in the Alger mid-cap growth fund

A growth fund is a diversified stock portfolio with a focus on the capital appreciation and minimal to no dividend payments. The portfolio is mostly made up of businesses with above-average growth that reinvest their earnings in growth, acquisitions, or R&D. (R&D). The majority of growth funds have bigger potential capital gains but often carry higher risks.A mid-cap fund invests in companies of average size.

She wants to withdraw 70% of the amount, by which her investment grew. Therefore,

Withdrawal = 70% * Growth amount

Withdrawal = 0.70 * 1450

Withdrawal = $1015

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