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Precalculus Chapter 6 Test Review, Problem 7
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An investor with a portfolio of $95,000 has invested in certificates of deposit, bonds, and stocks. The cds pay 4% annually, the bonds pay 6% annually, and stocks are expected to return 13% annually. The investor wants a combined annual return of $10,370. He invested $56,000 less in cds than in stocks. How much was invested in each fund?