Question
Avery and Caden have saved$27,000 towards a down payment on a house. They want to keep some of the money in a bank account that
Avery and Caden have saved$27,000
towards a down payment on a house. They want to keep some of the money in a bank account that pays2.4%
annual interest and the rest in a stock fund that pays7.2%
annual interest. How much should they put into each account so that they earn6%
interest per year?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
