You have $750,000 in an IRA (Individual Retirement Account) at the time you retire. You have the option of investing this money in two funds: Fund A pays 5.1% annually and Fund B pays 7.6% annually. How should you divide your money between Fund A and Fund B to produce an annual interest income of $52,000? You should invest $____ in Fund A and $____ in Fund B ? Thanks!@#!#
You have $750,000 in an IRA (Individual Retirement Account) at the time you retire. You have the option of investing this money in two funds: Fund A pays 5.1% annually and Fund B pays 7.6% annually. How should you divide your money between Fund A and Fund B to produce an annual interest income of $52,000? You should invest $____ in Fund A and $____ in Fund B ? Thanks!@#!#
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.4: Mathematics Of Finance
Problem 23E
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You have $750,000 in an IRA (Individual Retirement Account) at the time you retire. You have the option of investing this money in two funds: Fund A pays 5.1% annually and Fund B pays 7.6% annually. How should you divide your money between Fund A and Fund B to produce an annual interest income of $52,000?
You should invest $____ in Fund A and $____ in Fund B ?
Thanks!@#!#
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