A retired woman has $200,000 to invest. She has chosen one relatively safe investment fund that has an annual yield of 9% and another riskier fund that has a 13% annual yield. How much should she invest in each fund if she would like to earn $20,000 per year from her investments? 9% fund $ 13% fund $
A retired woman has $200,000 to invest. She has chosen one relatively safe investment fund that has an annual yield of 9% and another riskier fund that has a 13% annual yield. How much should she invest in each fund if she would like to earn $20,000 per year from her investments? 9% fund $ 13% fund $
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Step 1: Requirement of the question
VIEWStep 2: Assume the investment in each funds as x and y
VIEWStep 3: Establish an equation between x,y and $200000
VIEWStep 4: Calculate the annual earning in each investment
VIEWStep 5: Establish an equation between 0.09x,0.13y and $20000
VIEWStep 6: Solve equation 1 and equation 2 to get the value of x and y
VIEWStep 7: Give a final conclusion
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