Question
One safe investment pays 7% per year, and a more risky investment pays 8% per year.a. How much must be invested in each account if
One safe investment pays 7% per year, and a more risky investment pays 8% per year.a. How much must be invested in each account if an investor of $96,000 would like a return of $6,980 per year?b. Why might the investor use two accounts rather than put all the money in the 8% investment?a. $ ____ is invested in the 7% account.
One safe investment pays 7% per year, and a more risky investment pays 8% per year.a. How much must be invested in each account if an investor of $96,000 would like a return of $6,980 per year?b. Why might the investor use two accounts rather than put all the money in the 8% investment?a. $ ____ is invested in the 7% account.
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
1118334329, 978-1118334324
