How much is invested at each rate?

timer Asked: Dec 15th, 2015

Question description

The controller (money manager) for a small company puts some money in a bank account paying 4% per year. He uses some additional money, amounting to 1/3 the amount placed in the bank, to buy bonds paying 5% per year. With the balance of the funds, he buys a 10% certificate of deposit. The first year the investments bring a return of $770. If the total of the investments is $10,000, how much is invested at each rate?

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