word problem help

Question

ed moura has $73000 invested in stocks paying 8%. how much additional money should he invest in certificates of deposit paying 2% so that the average return on the two investments is 3%

Answer 1

The 73000 yields 73000*.08. Let's say x dollars at 2% yields .02x. Then 73000*.08+.02x=(73000+x)*.03

Solve for x!

 

Hope that helps,

Deanna