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Help with APR question.? |
Bill invests in a plan that has an APR of 2%. He invests five timesin a plan that has an APR of 3%. If the total interest of the investments is $493 after one year, how much was invested in each plan? do your own math homework tell Bill there are better rates at ING Direct and he should look into that. |
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Let the amount invested at 2% be X. Then the amount invested at 8% was 2X. So 0.02X + 0.08 x 2X = 432 0.18X = 432 x = 2400 Ans. Amount invested at 2% was $2400 and that invested at 8% was 2x 2... what is stock marketing? tba ...Your logic is sound here. Currently with Fannie Mae, you can get 100% financing around 5.875% with the proper financial profile. It sounds as if you have put some thought into this and I commend yo... Your logic is sound here. Currently with Fannie Mae, you can get 100% financing around 5.875% with the proper financial profile. It sounds as if you have put some thought into this and I commend yo... i think its a good idea with a little family touch;)) ...I would forget annuities and consider tax-managed mutual funds such as Vanguard's VMCAX. Chances are you'll end up with a larger pot of dough in the long run--and you'll get to keep... You should try to save enough that you can live on the interest income: In retirement, you will want "safe" & reliable investments, usually bonds or CDs, so you should save up enough ... Around $8 million ... |
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