A retired woman has $240,000 to invest. She has chosen one relatively safe investment fund that has an annual yield of 9% and another riskier fund that has a 13% annual yield. How much should she invest in each fund if she would like to earn $24,000 per year from her investments? 9% fund $ 13% fund $
Added by Stephanie P.
Step 1
We have two equations: 1) x + y = 240,000 (total investment) 2) 0.09x + 0.13y = 24,000 (total earnings) Now we can solve this system of equations. Show more…
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