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Problem 1: Sandy wants to have an income of $8300 per year from investments. To that end she is going to invest $80,000 in three different accounts. These accounts pay 7%, 10%, and 14% simple interest. If she wants to invest the same amount in the account paying 7% simple interest as she has in the account paying 14% simple interest, how much should go into each account? Define Variables

Problem 1: Sandy wants to have an income of $8300 per year from investments. To that end she is going to invest $80,000 in three different accounts. These accounts pay 7%, 10%, and 14% simple interest. If she wants to invest the same amount in the account paying 7% simple interest as she has in the account paying 14% simple interest, how much should go into each account? Define Variables

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Problem 1: Sandy wants to have an income of $8300 per year from investments. To that end she is going to invest $80,000 in three different accounts. These accounts pay 7%, 10%, and 14% simple interest. If she wants to invest the same amount in the account paying 7% simple interest as she has in the account paying 14% simple interest, how much should go into each account? Define Variables
Transcribed Image Text:Problem 1: Sandy wants to have an income of $8300 per year from investments. To that end she is going to invest $80,000 in three different accounts. These accounts pay 7%, 10%, and 14% simple interest. If she wants to invest the same amount in the account paying 7% simple interest as she has in the account paying 14% simple interest, how much should go into each account? Define Variables
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