document.write( "Question 813466: Katherine Chong invests $10,000 received from her grandmother in 3 ways. With one part, she buys U.S. savings bonds at an interest rate of 2.5% per year. She uses the second part, which amounts to twice the first, to buy mutual funds that offer a return of 6% per year. She puts the rest of the money into a money market account paying 4.5% annual interest. The first year her investments bring a return of $470. How much did she invest in each way. \n" ); document.write( "
Algebra.Com's Answer #489749 by lwsshak3(11628)![]() ![]() ![]() You can put this solution on YOUR website! Katherine Chong invests $10,000 received from her grandmother in 3 ways. With one part, she buys U.S. savings bonds at an interest rate of 2.5% per year. She uses the second part, which amounts to twice the first, to buy mutual funds that offer a return of 6% per year. She puts the rest of the money into a money market account paying 4.5% annual interest. The first year her investments bring a return of $470. How much did she invest in each way. \n" ); document.write( "*** \n" ); document.write( "let x=amount invested in savings bonds at 2.5% \n" ); document.write( "2x=amount invested in mutal funds at 6% \n" ); document.write( "10000-3x=amount invested in money market acount at 4.5% \n" ); document.write( ".. \n" ); document.write( "2.5%x+6%*2x+4.5%(10000-3x)=470 \n" ); document.write( ".025x+.12x+450-0.135x=470 \n" ); document.write( ".01x=20 \n" ); document.write( "x=2000 \n" ); document.write( "2x=4000 \n" ); document.write( "10000-3x=4000 \n" ); document.write( ".. \n" ); document.write( "amount invested in savings bonds=$2000 \n" ); document.write( "amount invested in mutal funds=$4000 \n" ); document.write( "amount invested in money market acount=$4000 \n" ); document.write( " \n" ); document.write( " |