Discover new knowledge and insights with IDNLearn.com's extensive Q&A platform. Find reliable solutions to your questions quickly and easily with help from our experienced experts.

Mark wants to invest $10,000 to pay for his daughter's wedding next year. He will invest some of the money in a short term CD that pays 12% interest and the rest in a money market savings account that pays 5% interest. How much should he invest at each rate if he wants to earn $1,102 in interest in one year?