In Exercises, determine the solution by setting up and solving the matrix equation.Return...
In Exercises, determine the solution by setting up and solving the matrix equation.
Return on Investment The average annual return (over the 10-year periodprior to June 30, 2002) of two mutual funds offered by Harbor Fund is shown in the following table.
Average Annual Return | |
Growth Fund | 5.84% |
Capital Appreciation Fund | 12.69% |
Source: Harbor Fund account statement.
Suppose you have $2,000 to invest in these two accounts. Assuming that the accounts will earn the returns specified in the table over the next year, how much should you invest in each account if you want to earn 7 percent, 9 percent, or 11 percent?
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