Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

This hw is due at 12 and I'm having trouble with this question could you help please An investor inherited $80,000, and she split it

This hw is due at 12 and I'm having trouble with this question could you help please

image text in transcribed
An investor inherited $80,000, and she split it into three investments. Part of the money she invested in a treasury bill that yields 3% annual interest, part she invested in bonds with an annual yield of 8%, and the rest she invested in a mutual fund. In 2008, when the mutual fund lost 7%, her net income from all three investments was $2400. In 2009, when the mutual fund gained 10%, her net income from all three investments was $5800. How much money did the investor put into each investment? The investor invested $ in the treasury bill, $ in bonds, and $ in the mutual fund

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Elementary Statisitcs

Authors: Barry Monk

2nd edition

978-1259345296

Students also viewed these Mathematics questions