SOLUTION: Juanita invests $10,000 in three different ways. With part of the money she purchases mutual funds that yield 8%. The second part, which is twice that of the second, she buys feder
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Question 1084875: Juanita invests $10,000 in three different ways. With part of the money she purchases mutual funds that yield 8%. The second part, which is twice that of the second, she buys federal bonds that yield 9%. She invests the rest in a bank at 5% interest. The first year she earns $830 in interest. How much did she invest each way? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! The sentence " The second part, which is twice that of the second,
she buys federal bonds that yield 9% " I assume needs the change
" which is twice that of the first "
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Let = amount invested at 8% = amount invested at 9% = amount invested at 5%
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I assume each investment is simple interest yr
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and
and
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the investments were:
$3,000 @ 8%
$6,000 @ 9%
$1,000 @ 5%
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check answers:
OK
