Asked by Jay
Ed invests $68,000 in certificates of deposit (i.e., CDs) paying 1.75%. How much additional money does he
need to invest in stocks that are expected to generate a return of 11.8% so that the average return on all of
Ed’s investments is 7.5%?
need to invest in stocks that are expected to generate a return of 11.8% so that the average return on all of
Ed’s investments is 7.5%?
Answers
Answered by
Steve
.0175*68000 + .118x = .075(68000+x)
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