Patrick wins $200,000 in the Louisiana state lottery. He invests part of the money in real estate
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Patrick wins $200,000 in the Louisiana state lottery. He invests part of the money in real estate with an annual return of 3% and another part in a money market account at 2.5% interest. He invests the rest, which amounts to $80,000 less than the sum of the other two parts, in certificates of deposit that pay 1.5%. If the total annual interest on the money is $4900, how much was invested at each rate?
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Real Estate Let x the amount invested in real estate at 3 y the amount invested in a money market ac...View the full answer
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Related Book For 
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
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