Question: When it is time to go on her trip, Jada decides she really doesn't want to spend all of the money she has saved and
When it is time to go on her trip, Jada decides she really doesn't want to spend all of the money she has saved and will have a "staycation" instead. She makes plans for the 10 weeks off and instead invests most of her saved money, $6,000. Jada wants to earn 7.4% by putting some money in a mutual fund that earns 10% per year and the rest into bonds that earn 5% per year. How much should Jada invest in each fund? (
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