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27 October, 16:45

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 %?

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  1. 27 October, 18:46
    0
    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
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