Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of accounts: one paying 5%, one paying 7 1 2%, and one paying 8% simple interest per year. Cyndee wants to put twice as much in the lowest-yielding, least-risky account as in the highest-yielding account. How much should she invest in each account to achieve a total annual return of $3255? least-risky $ intermediate $ highest-yielding $
Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of accounts: one paying 5%, one paying 7 1 2%, and one paying 8% simple interest per year. Cyndee wants to put twice as much in the lowest-yielding, least-risky account as in the highest-yielding account. How much should she invest in each account to achieve a total annual return of $3255? least-risky $ intermediate $ highest-yielding $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of accounts: one paying 5%, one paying
7
%,
| 1 |
| 2 |
and one paying 8% simple interest per year. Cyndee wants to put twice as much in the lowest-yielding, least-risky account as in the highest-yielding account. How much should she invest in each account to achieve a total annual return of $3255?
| least-risky | $ | |
| intermediate | $ | |
| highest-yielding | $ |
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