Math
posted by Rachel .
The management of a private investment club has a fund of $114,000 earmarked for investment in stocks. To arrive at an acceptable overall level of risk, the stocks that management is considering have been classified into three categories: highrisk, mediumrisk, and lowrisk. Management estimates that highrisk stocks will have a rate of return of 17% per year; mediumrisk stocks, 11% per year; and lowrisk stocks, 5% per year. The investment in lowrisk stocks is to be twice the sum of the investments in stocks of the other two categories. If the investment goal is to have an average rate of return of 9% on the total investment, determine how much the club should invest in each type of stock. (Assume that all the money available for investment is invested. Round your answers to the nearest whole number.)
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