Question
Phoenix inherits $12,000. He decides to invest part of the inheritance in a mutual fund and the remaining part in a certificate of deposit. If
Phoenix inherits $12,000. He decides to invest part of the inheritance in a mutual fund and the remaining part in a certificate of deposit. If the amount invested in the certificate if deposit is $3,000 more than 8 times the amount invested in the mutual fund, find the amount invested in each account.
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
