You invest your $2500 COVID-19 stimulus check into 3 separate accounts. The Certifi- cate of Deposit (CD) pays 4% interest annually. The stock market pays 5% annually. The toilet paper hoarding business pays 10% annually. If the amount spent on the toilet paper hoarding business is $400 more than you spent on the CD, and the total interest gained is $169, how much money did you invest in each venture. Please show all your equations, and the matrix you used to solve this.

You invest your $2500 COVID-19 stimulus check into 3 separate accounts. The Certifi- cate of Deposit (CD) pays 4% interest annually. The stock market pays 5% annually. The toilet paper hoarding business pays 10% annually. If the amount spent on the toilet paper hoarding business is $400 more than you spent on the CD, and the total interest gained is $169, how much money did you invest in each venture. Please show all your equations, and the matrix you used to solve this.

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 28P

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