Solve the investment problem. See Example 4. See the Strategy for Solving Word Problems box on page 91.
Insurance settlement. Gary invested one-third of his insurance settlement in a CD that yielded 12%. He also invested one-third in Tara’s computer business. Tara paid Gary 15% on this investment. If Gary’s total income from these investments was $10,800 for 1 year, then what was the amount of his insurance settlement?
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