Answered: Jake has $285,000 to invest. He…

Name: Jake has $285,000 to invest. He chooses one money market fund that pa
Uploaded: 2024-03-20T07:07:26.000Z
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Description: 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

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...

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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%(Simplfy your answer)

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