Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave
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Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the $14,000 they had saved for her college tuition. She opted to invest some money in a privately held company that pays 10% per year and evenly split the remaining money between a money market account yielding 2% and a high-risk stock that yielded 40%. At the end of the first year she had $16,610 total. How much did she invest in each of the three?
Related Book For
Excellence in Business Communication
ISBN: 978-0136103769
9th edition
Authors: John V. Thill, Courtland L. Bovee
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