Answered step by step
Verified Expert Solution
Question
1 Approved Answer
20. (6 pts) John puts $50,000 into three investments form low to high risk: some in a 5% account, some in a 9% account and
20. (6 pts) John puts $50,000 into three investments form low to high risk: some in a 5% account, some in a 9% account and some in a 16% account. To avoid excess risk he invest three times as much in the 5% account as in the 16% account. He gets $4000 from his investments. How much did he invested in each account? Choose the variables, write the equations and STOP! NO SOLVING
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started