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College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060XCollege Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
Edition 3ISBN: 032157060X Exercise 32
Step-by-step solution
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Step 1 of 4
Consider that a retired couple has $420,000 to invest. They chose one relatively safe investment fund that has an annual yield of 6% and another riskier investment that has a 10% annual yield.
Let us find how much they should invest in each fund to earn $30,000 per year.
Denote the fund invested at 6% as x and the fund invested at 10% as y.
Then we have the equation
...... (1)
Step 2 of 4
Step 3 of 4
Step 4 of 4
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences 3rd Edition by Ronald J Harshbarger, Lisa Yocco
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