Question

Ed Moura has ​$17000 invested in stocks paying 6​%. How much additional money should he invest in certificates of deposit paying 3​% so that the average return on the two investments is 4​%?

Answer 1

Answer:

34,000

Step-by-step explanation:

0.06(17,000) + 0.03b = 0.04(b + 17,000)

1020 + 0.03b = 0.04b + 680

0.04b-0.03b=1020-680

0.01b = 340  

b = 34,000