After securing a $280,000 settlement from a copyright infringement case, acclaimed author Adrian decided to distribute his
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After securing a $280,000 settlement from a copyright infringement case, acclaimed author Adrian decided to distribute his unexpected windfall into three distinct investment vehicles: fixed-term savings account yielding 4%, a treasury note yielding 5%, and some high-grade corporate bonds yielding 7%. Following one fiscal year, his investment portfolio yielded an impressive $15,400 in earned interest.
Determine the amount Adrian invested in each instrument, given that he allocated $20,000 more into the high-grade corporate bonds than he did in the treasury note. Utilize your preferred method of solving systems of equations to find the solution.
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4th Edition
Authors: Sean Melvin, Enrique Guerra-Pujol
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