Problem

Investment Jake has $250,000 to invest. He chooses one money market fund that pays 6.6% an...

Investment Jake has $250,000 to invest. He chooses one money market fund that pays 6.6% and a mutual fund that has more risk but has averaged 8.6% per year. If his goal is to average 7% per year with minimal risk, how much should he invest in each fund?

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