Problems 76–85 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam.

Ethan has $60,000 to invest. He puts part of the money in a CD that earns 3% simple interest per year and the rest in a mutual fund that earns 8% simple interest per year. How much did he invest in each if his earned interest the first year was $3700?