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Investing. Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the $23,000 they had saved...
Investing. Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the $23,000
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 $26,840
total. How much did she invest in each of the three?
She invested $
at 10%
She invested $
at 2%
She invested $
at 40%