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How much should be deposited in each investment

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A student inherits $100,000 and decides to invest half. The student has two investments to choose from; the first is a low risk investment that pays an average of 4% simple interest annually, the second has much more risk but averages 9% simple interest per year. If the student hopes to earn $3,000 a year in interest, how much should be deposited in each investment?

Reference no: EM131035848

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