You have $500,000 in an IRA (Individual Retirement Account) at the time you retire. You have the
Question:
You have $500,000 in an IRA (Individual Retirement Account) at the time you retire. You have the option of investing this money in two funds: Fund A pays 5.2% annually and Fund B pays 7.7% annually. How should you divide your money between Fund A and Fund B to produce an annual interest income of $34,000?
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Lets use x to represent the amount invested in Fund A and y to represe...View the full answer
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Related Book For 
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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