Question: The controller (money manager) for a small company puts some money in a bank account paying 2% per year. He uses some additionalmoney, amounting to
The controller (money manager) for a small company puts some money in a bank account paying
2%
per year. He uses some additionalmoney, amounting to
13
the amount placed in the bank, to buy bonds paying
3%
per year. With the balance of the funds, he buys a
8%
certificate of deposit. The first year the investments bring a return of
$524.
If the total of the investments is $10,000 how much is invested at each rate?
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