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14 December, 14:44

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

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  1. 14 December, 14:58
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    0.06x+0.15 (8000-x) = 930

    Solve for x

    X=1800 at 6%

    8000-1800=6,200 at 15%
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