SOLUTION: Gary invested one-third of his insurance settlement in a CD that yielded 12%. He also invested one-third in Tara's computer business. Tara paid Gary 15% on his investment. IF Ga
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Question 203682: Gary invested one-third of his insurance settlement in a CD that yielded 12%. He also invested one-third in Tara's computer business. Tara paid Gary 15% on his investment. IF Gary's total income from these investments was $10,800 for one year, then what was the amount of his insurance settlement Found 2 solutions by rfer, MathTherapy:Answer by rfer(16322) (Show Source):
You can put this solution on YOUR website! Let Gary’s insurance settlement be i. Then he invested in the 12% CD. This means that his income from this investment is , which equals
It also means that Gary invested in the 15% computer business. This means that his income from this investment is , which equals , Therefore,
(