College Math
posted by Karen on .
Ed Moura has $29,000 invested in stocks paying 5%. How much additional money should he invest in certificates of deposit paying 2% so that the average return on the two investments is 3%?

return=sum of two returns
.03(29000+Y)=.05(29,000)+.2(Y)
solve for Y.
check my thinking. 
Ed Moura has
$50000
invested in stocks paying
7%.
How much additional money should he invest in certificates of deposit paying
2%
so that the average return on the two investments is
3%?