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QUESTION
To pay for their child's college education, the parents invest $10,000, part in a certificate of deposit paying 8.5% annual interest, The rest in a...
To pay for their child's college education, the parents invest $10,000, part in a certificate of deposit paying 8.5% annual interest, The rest in a mutual fund paying 7% annual interest. The annual income from the certificate of deposit is $200.00 more than the annual income from the mutual fund. How much money was put into each type of investment?
