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anyanavicka [17]
2 years ago
15

As part of his retirement strategy, John plans to invest $210,000 in two different funds. He projects that the moderately high r

isk investments should return, over time, about 9% per year, while the low risk investments should return about 4% per year. If he wants a supplemental income of $11,400 a year, how should he divide his investments?
Mathematics
1 answer:
Maslowich2 years ago
7 0

Answer:

Therefore he invested $60,000 at 9% per year and $(210,000-60,000)=$150,000 at 4% per year.

Step-by-step explanation:

Given John plans to invest $210,000 in two different funds. He projects that the moderately high risk investments should return, overtime 9% per year,while low risk investments should return about 4% per year.

He wants a supplemental income of$11,400 a year.

Let , he invested $x at 9% per year and $(210,000-x) at 4% per year.

interest=\frac{prt}{100}   p = principle , r = rate of interest and t = time

The interest earns at 9% per year= \frac{x\times 9\times 1}{100}

The interest earns at 4% per year=\frac{(210,00-x)\times 4 \times 1}{100}

According to the problem,

\frac{x\times 9\times 1}{100}+\frac{(210,00-x)\times 4 \times 1}{100}= 11400

\Leftrightarrow 9x+840000-4x=11400 \times 100

\Leftrightarrow 5x=1140000-840000

\Leftrightarrow x=\frac{300000}{5}

\Leftrightarrow x=60,000

Therefore he invested $60,000 at 9% per year and $(210,000-60,000)=$150,000 at 4% per year.

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