# math

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?

1. 👍 0
2. 👎 0
3. 👁 1,152
1. P Dollars @ 6%, 2P Dollars @ 3%, (50,000-3P) @ 5.5

0.06P + 0.03(2P) + 0.055(50,000-3P) = 2165.

0.06P + 0.06P + 2750 - 0.165P = 2165, -.045P = 2165-2750 = -585, P = \$13,000 @ 6%.

2P = \$26,000 @ 3%.

(50,000-39,000) = \$11,000 @ 5.5%.

1. 👍 0
2. 👎 1
posted by Henry

## Similar Questions

I need to know the formula for these questions and just how to do them. If you could help please. As a financial planner a client comes to you for investment advice. After meeting with him and understanding his needs, you offer

asked by Diane on December 21, 2010
2. ### career

Which ability does the following example represent? as a financial planner, you advice people about where to invest their money. assertive%%%%%%%%%%%%%%%% persuasive systematic

asked by Anonymous on March 26, 2019
3. ### algabra

Three individuals form a partnership and agree to divid the profits equally. x invest \$9000, y invest \$7000 z invest \$4000. how much much less does x receive than if the profists were divided in proportion to the amount invest

asked by Agnes on June 10, 2013
4. ### Algebra 2

A man is planning to invest up to \$22,000in bank X or bank Y or both. He wants to invest at least \$2,000 but no more than \$14,000 in bank X. Bank Y doesn't insure more than a \$15,000 investment so he will not invest no more than

asked by Kelsie on December 15, 2010

Part I: As a financial planner a client comes to you for investment advice. After meeting with him and understanding his needs, you offer him the following two investment options: Option 1 (refer to section on Mathematics of

asked by Tracey on December 21, 2010
6. ### Corporate Fiance

You are a financial planner and have a client who would like to receive a \$12,000 annuity for 25 years after retiring 20 years from now. Assuming an 8% return on investment can be earned prior to retirement and a 10% return can be

asked by Cindy on May 9, 2013
7. ### Math

Jason Printing has \$85,000 to invest. They can invest in Wilder Revenue at 10% compounded semiannually or at Cheapskate Investments at 9.8% compounded monthly. a) Calculate the two APYs and compare them to determine your answer.

8. ### Math

Jason Printing has \$85,000 to invest. They can invest in Wilder Revenue at 10% compounded semiannually or at Cheapskate Investments at 9.8% compounded monthly. a) Calculate the two APYs and compare them to determine your answer.

asked by Megan on April 13, 2014
9. ### Finance

Mr. Brown is in the 10% federal income tax bracket and wants to invest \$8,000 in interest-earning assets. Mr. Black is in the 35% bracket and wants to invest \$15,000. The current rate on a typical high-quality tax-exempt municipal

asked by angela on September 2, 2012
10. ### Math

Jason Printing has \$85,000 to invest. They can invest in Wilder Revenue at 10% compounded semiannually or at Cheapskate Investments at 9.8% compounded monthly. a. Calculate the two APYs and compare them to determine your answer.