You have $250,000 in an IRA (Individual Retirement Account) at the time you retire. You have the op

Discussion in 'Calculator Requests' started by math_celebrity, Jan 8, 2017.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    You have $250,000 in an IRA (Individual Retirement Account) at the time you retire. You have the option of investing this money in two funds: Fund A pays 5.4% annually and Fund B pays 7.9% annually. How should you divide your money between fund Fund A and Fund B to produce an annual interest income of $14,750?

    You should invest $______in Fund A and $___________in Fund B.

    Equation is x(.079) + (250,000 - x).054 = 14,750
    .025x + 13,500 = 14,750
    .025x = 1,250
    x = 50,000 for Fund A
    So at 5.4%, we have 250,000 - 50,000 = 200,000 for the other fund B.

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