Question
Jake has $168,000 to invest. He chooses one money market fund that pays 6.8% and a mutual fund that has more risk but has averaged
Jake has $168,000 to invest. He chooses one money market fund that pays 6.8% and a mutual fund that has more risk but has averaged 7.2% per year. If his goal isto average 6.9% per year with minimal risk, how much should he invest in each fund?Jake should invest $ in the money market fund that pays 6.8%.(Simplify your answer.)
Jake has $168,000 to invest. He chooses one money market fund that pays 6.8% and a mutual fund that has more risk but has averaged 7.2% per year. If his goal isto average 6.9% per year with minimal risk, how much should he invest in each fund?Jake should invest $ in the money market fund that pays 6.8%.(Simplify your answer.)
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Accounting Principles
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
7th Canadian Edition Volume 2
978-1119048473
