Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of...
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Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of accounts: one paying 3%, one paying 5 1/2 %, and one paying 6% 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 $2165? Cyndee wants to invest $50,000. Her financial planner advises her to invest in three types of accounts: one paying 3%, one paying 5 1/2 %, and one paying 6% 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 $2165?
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Let x be the amount invested in the lowestyielding account Then 2x is invested ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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