Josh and Ginger Decide to Place $14,900 of Their Savings

Multiple Choice

Josh and Ginger decide to place $14,900 of their savings into investments. They put some in a money market account earning 5.1 % interest, some in a mutual fund that has been averaging 6.9% a year, and some in a stock that rose 9.1% last year. If they put $1,600 more in the money market than in the mutual fund and the mutual fund and stocks have the same growth in the next year as they did in the previous year, they will earn $1,006.7 in a year. How much money did they put in each of the three investments?

A) $6,000 at 5.1%, $7,600 at 6.9%, $1,300 at 9.1%
B) $6,200 at 5.1%, $4,600 at 6.9%, $4,100 at 9.1%
C) $4,600 at 5.1%, $4,100 at 6.9%, $6,200 at 9.1%
D) $7,600 at 5.1%, $1,300 at 6.9%, $6,000 at 9.1%