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29 January, 15:41

A worker received a $10,000 bonus and decided to split it among three different accounts. He placed part in a savings account paying 4.5% per year, twice as much in government bonds paying 5%, and the rest in a mutual fund that returned 4%. His income from these investments after one year was $455. How much did the worker place in the government bonds?

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  1. 29 January, 16:42
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    so savings = $2200

    bonds = $4400

    and mutual fund = $3400

    Explanation:

    given data

    received bonus = $10,000

    savings account paying = 4.5% per year

    bonds paying = 5%

    mutual fund that returned = 4%

    income from these investments = $455

    to find out

    How much did the worker place in the government bonds

    solution

    we consider amount invested for 4.5 % is = x

    and hen his investment in bonds is = 2x for 5%

    and rest is 10000 - x - 2x

    that is = (10000 - 3x) for 4%

    so

    interest equation will be here

    0.045 x + 0.05 (2x) + 0.04 (10000-3x) = 455

    solve we get

    x = 2200

    so savings = $2200

    bonds = $4400

    and mutual fund = $3400
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