was $525, how much mo 10. Nick, an attorney, divided his $15,000 bonus check among three different investments. He purchased a municipal bond paying 5.5% simple interest. He invested twice the amount of money that he paid for the municipal bonds in a certificate of deposit paying 4.5% simple interest. Nick placed the balance of the money in a money market account paying 3.75% simple interest. If Nick's total interest for the year was $692.50, how much was placed in each account?

was $525, how much mo 10. Nick, an attorney, divided his $15,000 bonus check among three different investments. He purchased a municipal bond paying 5.5% simple interest. He invested twice the amount of money that he paid for the municipal bonds in a certificate of deposit paying 4.5% simple interest. Nick placed the balance of the money in a money market account paying 3.75% simple interest. If Nick's total interest for the year was $692.50, how much was placed in each account?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.3: Solve Mixture Applications

Problem 3.66TI: has $8,000 to save for his daughter’s college education. He wants to divide it between one account...

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