Problema Solution
Ed Moura has $82000 invested in stocks paying 6%. How much additional money should he invest in certificates of deposit paying 3% so that the average return on the two investments is 4%?
Answer provided by our tutors
let x= the amount of the additional investment
0.06*82000 + 0.03*x = 0.04(82000 + x)
by solving we find
x = $164,000.00
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