SOLUTION: One safe investment pays 10% per year, and a more risky investment pays 15% per year. A woman who has $148,000 to invest would like to have an income of $18,000 per year from her i
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Question 976936: One safe investment pays 10% per year, and a more risky investment pays 15% per year. A woman who has $148,000 to invest would like to have an income of $18,000 per year from her investments. How much should she invest at each rate?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x=the safer investment
148-x=riskier. Units in thousands.
.10x+ 0.15(148-x)=18
.10x + (22.2-.15x)=18
-0.05 x=-4.2
x=84 or $84,000
the other is $64,000
84,000*10%=$8400
64,000*15%=$9600
total=$18,000
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