John received an inheritance of $12,000 that he divided into three parts and invested in three ways: in a money-market fund paying 3% annual interest; in municipal bonds paying 4% annual interest; and in mutual funds paying 7% annual interest. John invested $4,000 more in municipal funds than in municipal bonds. He earned $670 in interest the first year. How much did John invest in each type of fund?

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annapearanda10 · Answer

Money-market fund: $2,000Municipal bonds: $3,000Mutual funds: $7,000

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