Jason receives an inheritance of $50,000. His financial advisor suggests that he invest this in three mutual funds: a money-market fund, a blue-chip stock fund, and a high- tech stock fund. The advisor estimates that the money-market fund will return 5% over the next year, the blue-chip fund 9%, and the high-tech fund 16%. Jason wants a total first-year return of $4000. To avoid excessive risk, he decides to invest three times as much in the money-market fund as in the high-tech stock fund. How much should he invest in each fund?
Jason receives an inheritance of $50,000. His financial advisor suggests that he invest this in three mutual funds: a money-market fund, a blue-chip stock fund, and a high- tech stock fund. The advisor estimates that the money-market fund will return 5% over the next year, the blue-chip fund 9%, and the high-tech fund 16%. Jason wants a total first-year return of $4000. To avoid excessive risk, he decides to invest three times as much in the money-market fund as in the high-tech stock fund. How much should he invest in each fund?
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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