Jake has ​$285,000 to invest. He chooses one money market fund that pays 6.5​% and a mutual fund that has more risk but has averaged 17.0​% per year. If his goal is to average 8.6​% per year with minimal​ risk, how much should he invest in each​ fund? A- Jake should invest $____in the money market fund that pays 6.5​% 9 (Simplfy your answer)

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter13: Investing In Mutual Funds, Etfs, And Real Estate
Section: Chapter Questions
Problem 7FPE
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Jake has ​$285,000 to invest. He chooses one money market fund that pays 6.5​% and a mutual fund that has more risk but has averaged 17.0​% per year. If his goal is to average 8.6​% per year with minimal​ risk, how much should he invest in each​ fund?

A- Jake should invest $____in the money market fund that pays 6.5​% 9 (Simplfy your answer)

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