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(Solved): Melek inherited $445,000 from his uncle and decided to invest the money. Part of the money was put ...



Melek inherited $445,000 from his uncle and decided to invest the money. Part of the money was put in a money market account that earns 5.5 % simple interest. The remaining money was invested in a stock that returned 5 % in the first year and a mutual fund that lost 4 % in the first year. Melek invested $10,000 more in the stock than in the mutual fund, and the net gain for 1yr was $2750 . Determine the amount invested in each account.



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