John received an inheritance of $12,000$12,000 that he divided into three parts and invested in three ways: in a money-market fund paying 3%3% annual interest; in municipal bonds paying 4%4% annual interest; and in mutual funds paying 7%7% annual interest. John invested $4,000$4,000 more in municipal funds than in municipal bonds. He earned $670$670 in interest the first year. How much did John invest in each type of fund? (Use ANY solution for the system that you will obtain.)

John received an inheritance of $12,000$12,000 that he divided into three parts and invested in three ways: in a money-market fund paying 3%3% annual interest; in municipal bonds paying 4%4% annual interest; and in mutual funds paying 7%7% annual interest. John invested $4,000$4,000 more in municipal funds than in municipal bonds. He earned $670$670 in interest the first year. How much did John invest in each type of fund? (Use ANY solution for the system that you will obtain.)

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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