Amanda and Nick Decide to Place $20,300 of Their Savings

Short Answer

Amanda and Nick decide to place $20,300 of their savings into investments. They put some in a money market account earning 3% interest, some in mutual fund that has been averaging 6.5 a year, and some in a stock that rose 12%last year. If they put $4,100 more in the money market than in the mutual fund and the mutual fund and stocks experience the same growth the next year as they did the previous year,they will earn $1,356.5 in a year. How much money did Amanda and Nick put in each of these investments?