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​%?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math(College Algebra)

    I'm having trouble how to set up this math problem: Rebecca Herst received a year-end bonus of $17,000 from her company and invested the money in an account paying 6.5%. How much additional money should she deposit in an account paying …
  2. Math

    Betsy, a recent retiree, requires $6,000 per year in extra income. She has $60,000 to invest and can invest in B-rated bonds paying 13% per year or in a certificate of deposit (CD) paying 3% per year. How much money should be invested …
  3. COLLEGE ALGEBRA

    Sue, a recent retiree, requires $6,000 per year in extra income. She has $50,000 to invest and can invest in B-rated bonds paying 15% per year or in a certificate of deposit (CD) paying 7% per year. How much money should be invested …
  4. math

    Splitting investments. Joan had $3,000 to invest. She invested part of it in an investment paying 8% and the remainder in an investment paying 10%. If the total income on three investments was $290, than how much did she invest at …
  5. Math

    formulate but do not solve the linear programming problem. Tracy has at most $200,000 to invest in stocks,bonds, and money-market funds. She expects anual yields of 15%, 10%, and 8%, respectively, on these investments. If Tracy wants …
  6. math

    Ed has $15,000 invested in stocks paying 8%. How much additional money should he invest in certificates of deposit paying 4% so that the average return on the two investments is 6%?
  7. algebra

    Ed Moura has $21000 invested in stocks paying 8%. How much additional money should he invest in certificates of deposit paying 4% so that the average return on the two investments is 5%?
  8. Math 100

    ed moura has $11000 invested in 6%. how much additional money should he invest in certificates of deposit paying 3% so that the average return on the two investments is 4%
  9. math,

    . Mr. David, an individual investor, has $70,000to divide among several investments. The alternative investments are municipal bonds with an 8.5% annual return, certificates of deposit with a 5% return, treasury bills with a 6.5% return, …
  10. college algebra

    A $136000 trust is to be invested in bonds paying 8%, CDs paying 7%, and mortgages paying 10%. The bond and CD investment must equal the mortgage investment. To earn a $12040 annual income from the investments, how much should the …

More Similar Questions