SOLUTION: you have 70,000 to invest. part in a mutual fund paying 8% per year, the rest in an etf paying 12% per year. you must have a 9% return on the investments. how much money should you
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Question 977636: you have 70,000 to invest. part in a mutual fund paying 8% per year, the rest in an etf paying 12% per year. you must have a 9% return on the investments. how much money should you put in each investment? Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! x+y=70000,
0.12*x+0.08*y=0.09*70000
0.12*x+0.08*y=6300
x=70000-y
0.12*(70000-y)+0.08*y=6300
8400-0.12y+0.08*y=6300
-0.04*y=-2100
y=52500 at 8%
x=70000-y
x=17500 at 12%
check
0.12*17500+0.08*52500=0.09*70000
2100+4200=6300
6300=6300
ok
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