Mikhail has a savings portfolio containing $12,000, of which $3,000 is invested in CDs. His friend, Ivan, has $2,000 invested in CDs, and this investment is proportional to Mikhail's. How much money is in Ivan's savings portfolio?
Mikhail has $3.000 of his $12.000 invested in cd's, which is 3.000/12.000 = 1/4 of his total savings portofolio. Ivan too has 1/4 of his total savings portofolio invested in cd's, which is $2.000. So Ivan's total savings portofolio is 4 x $2.000 = $8.000
