Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Last year Hellen had $272,000 to invest . she invested part of her savings in an account (account 1) that pays an annual interest rate

Last year Hellen had $272,000 to invest . she invested part of her savings in an account (account 1) that pays an annual interest rate of 12%and the rest in an account ( account 2 ) that pays an annual interest rate of s % where s =12/10
if after a year she gets an average return on her investments of (12/3)%, how much did she invest in account 2 ( please solution should be detailed)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Investments

Authors: Zvi Bodie, Alan J. Marcus, Alex Kane

6th Edition

0072861789, 9780072861785

Students also viewed these Finance questions

Question

Describe the ethical issues involved in conducting HRD evaluation

Answered: 1 week ago