Respuesta :
The computation shows that the additional money that should be invested is $104000.
How to calculate the value?
Based on the information given, the equation to solve the question will be:
Amount invested = $52000
The additional investment needed will be represented by b. Therefore,
7%(52000) + (4% × b) = 5%(b + 52000)
0.07(52000) + 0.04b = 0.05(b + 52000)
3640 + 0.04b = 0.05b + 2600
Collect like terms
0.05b - 0.04b = 3640 - 2600
0.01b = 1040
Divide to get the value of b
b = 1040/0.01
b = 104000
Therefore, the additional money that should be invested is $104000.
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He should invest $104,000 in certificates of deposit.
What is Ed Moura's average return?
Ed Moura's average return is the sum of the two returns multiplied by the proportion of total invested in each investment, in other words, the average return is the weighted average return
let amount invested in certificates of deposit be X
total investment=$52,000+X
average return=(7%*$52,000/$52,000+X)+(4%+X/$52,000+X)
average return=5%
5%=(7%*$52,000/$52,000+X)+(4%+X/$52,000+X)
5%=($3,640/$52,000+X)+(0.04X/$52,000+X)
$52,000+X is common
5%=($3640+0.04X)/$52,000+X
5%*($52,000+X)=$3640+0.04X
$2600+0.05X=$3640+0.04X
0.05X-0.04X=$3640-$2600
0.01X=$1040
X=$1040/0.01
X=$104,000
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