Investing. Wendy was awarded a volleyball scholarship to

Chapter 1, Problem 29

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Investing. Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the $14,000 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 rst year she had $16,610 total. How much did she invest in each of the three?

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