Question 1199237
<br>
let x be the interest rate for the money market
then 3x is the interest rate for the stock<br>
Half of $7000, or $3500, invested at each rate yields $490 interest:<br>
{{{3500(x)+3500(3x)=490}}}
{{{3500(4x)=490}}}
{{{x=490/(14000)=7/200=.035}}}<br>
ANSWERS:
interest rate on money market: x = .035 = 3.5%
interest rate on stock: 3x = .105 = 10.5%<br>
CHECK: 3500(.035)+3500(.105) = 122.5 + 367.5 = 490<br>