A college student inherits $15,000 from his favorite aunt.
Chapter 10, Problem 21(choose chapter or problem)
A college student inherits $15,000 from his favorite aunt. He decides to invest it with a diversied scheme. He divides the money into a money market account paying 2% annual simple interest, a conservative stock that rose 4% last year, and an aggressive stock that rose 22% last year. He places $1000 more in the conservative stock than in the money market and twice as much in the aggressive stock than in the money market. If the stocks perform the same way this year, he will make $1790 in one year, assuming a simple interest model. How much did he put in each of the three investments?
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