Having received a bonus of $30,000 for accepting early retirement in July 2000, a company’s project manager invested $9,000 in a municipal bond paying 3.69%, $14,000 in a money market fund paying 4.01%, and $7,000 in a certificate of deposit paying 3.29%. Using the respective amounts invested as weights, find the weighted mean of the three percentages.

Answer rating: 100% (QA)

Solution Amount Particulars Proportion Amount invested E Amount in... View the full answer