Post a New Question

College Math

posted by .

Ed Moura has $29,000 invested in stocks paying 5%. How much additional money should he invest in certificates of deposit paying 2% so that the average return on the two investments is 3%?

  • College Math -

    return=sum of two returns
    .03(29000+Y)=.05(29,000)+.2(Y)

    solve for Y.
    check my thinking.

  • College Math -

    Ed Moura has
    ​$50000
    invested in stocks paying
    7​%.
    How much additional money should he invest in certificates of deposit paying
    2​%
    so that the average return on the two investments is
    3​%?

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question