SOLUTION: Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the dollar-sign 16,000 they had saved for her college tuition. She o

Question 898800: Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the dollar-sign 16,000 they had saved for her college tuition. She opted to invest some money in a privately held company that pays 10 % per year and evenly split the remaining money between a money market account yielding 2 % and a high-risk stock that yielded 40 %. At the end of the first year she had dollar-sign 19,140 total. How much did she invest in each of the three?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
a+b+c=16000,
.1a+.02b+.4c=3140,
b=c
a=2000., b=7000., c=7000.
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