SOLUTION: An investor wants to receive $1,000 annually from two investments. He has put $4,500 in a money market account paying 4% annual interest. How much should he invest in a stock fund
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-> SOLUTION: An investor wants to receive $1,000 annually from two investments. He has put $4,500 in a money market account paying 4% annual interest. How much should he invest in a stock fund
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Question 450044: An investor wants to receive $1,000 annually from two investments. He has put $4,500 in a money market account paying 4% annual interest. How much should he invest in a stock fund that pays 10% annual interest to achieve his goal? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! 4500x.04+.10x=1000
180+.1x=1000
.1x=820
x=820/.1=8200
The investor needs to deposit $8200 at 10% annually to achieve his goal..
