HorseWhisperz
New member
- Joined
- Apr 14, 2009
- Messages
- 8
So, my boyfriend asked me to help him with his homework, which is a subject I haven't touched since two years ago when I was a sophomore in high school. I know I'm smarter than to let this problem get to me the way it does. Perhaps I'm just kind of tired and not thinking too clearly, but it just makes no sense in my mind...
Here is the problem I was given:
Assume you have $2400 to invest for 1 year. You can make a safe investment that yields 4% interest a year or a risky investment that yields 8% a year. If you want to combine safe and risky investments to make $120 a year, how much of the $2400 should you invest at the 4% interest? How much at the 8% interest?
Would someone be able to solve it for me and give a 'refresher' in my mind how these problems work? Thank you.
Here is the problem I was given:
Assume you have $2400 to invest for 1 year. You can make a safe investment that yields 4% interest a year or a risky investment that yields 8% a year. If you want to combine safe and risky investments to make $120 a year, how much of the $2400 should you invest at the 4% interest? How much at the 8% interest?
Would someone be able to solve it for me and give a 'refresher' in my mind how these problems work? Thank you.