Find how much money rufus placed in each type of investment

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Reference no: EM133426168

Question: The annual returns on Rufus' three investments amounted to $10,800 this past year. The savings account had a rate of return of 3%, the mutual funds had a rate of return of 4%, and bonds had a rate of return of 6%. The amount of Rufus' investment of bonds was twice the amount of his investment in the savings account, and the interest earned from the investment in bonds was equal to the dividends received from the investment in mutual funds. Find how much money Rufus placed in each type of investment.

Reference no: EM133426168

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