Ali invested $ 12,000 for different funds having 3%, 4%, and 7% annual interest for the money-market
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Ali invested $ 12,000 for different funds having 3%, 4%, and 7% annual interest for the money-market fund, municipal bonds, and mutual funds, respectively. Furthermore, he invested $ 4,000 more for mutual funds than municipal bonds, and in one-year total earned interest is $ 670. How much did he invest in each type of fund? Model the system and solve the system using Cramer Rule.
Related Book For
Elementary Statistics A step by step approach
ISBN: 978-0073386102
8th edition
Authors: Allan Bluman
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