# SOLUTION: Jerry and Lucy have \$29,000 invested in stocks paying 5%. How much additional money should they invest in certificates of deposit paying 2% so that the total return on the two inve

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 Question 25383: Jerry and Lucy have \$29,000 invested in stocks paying 5%. How much additional money should they invest in certificates of deposit paying 2% so that the total return on the two investments is 3%? I have tried so many solutions and can't figure it outAnswer by Earlsdon(6287)   (Show Source): You can put this solution on YOUR website!Let x = the additional amount to be invested at 2%. The problem is: 5% of \$29,000 + 2% of \$x = 3% of (\$29,000 + \$x) Let's put this into an equation so you can solve for x. First, convert the percentages to their equivalent decimals. (2% = 0.02, 3% = 0.03, 5% = 0.05) Simplify and solve for x. Subtract 870 from both sides. Subtract 0.02x from both sides. Finally, divide both sides by 0.01 The additional amount required is \$58,000 Check: = \$2,610 = \$2,610