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a financial planner wants to invest $8,000, in some high risk stocks earning 15% annually and the rest in safer mutual funds earning 6% annually. How much should be invested at each rate to get a return
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a financial planner wants to invest $8,000, in some high risk stocks earning 15% annually and the rest in safer mutual funds earning 6% annually. How much should be invested at each rate to get a return of $930 annually from the two investments

User Emanuel Graf
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1 Answer

4 votes
0.06x+0.15 (8000-x)=930
Solve for x
X=1800 at 6%

8000-1800=6,200 at 15%
User Natros
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