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Posted by on Thursday, September 1, 2011 at 9:12am.

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%?

  • College Math - , Thursday, September 1, 2011 at 10:04am

    return=sum of two returns
    .03(29000+Y)=.05(29,000)+.2(Y)

    solve for Y.
    check my thinking.

  • College Math - , Sunday, January 17, 2016 at 7:09pm

    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​%?

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