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Please help me with this

Edd has 81000 dollars invested in stocks at 7% how much additional money should he invest in certificates of deposit paying 3% so that the average return of the investments is 4%

the answer is 243000 im pretty sure but how do you solve it?

2007-09-13 18:39:22 · 1 answers · asked by MedSchoolOrBust77 2 in Business & Finance Investing

1 answers

0.03X + (81,000 * 0.07) = 0.04 * (X + 81,000)

0.03X + 5,670 = 0.04X + 3,240

0.03X + 2,430 = 0.04X

2,430 = 0.01X

243,000 = X

2007-09-13 22:07:37 · answer #1 · answered by zman492 7 · 0 0

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