MATH SOLVE

4 months ago

Q:
# A mother earned $7500.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $360.00, how much money was invested at each rate?

Accepted Solution

A:

The amount of money deposited in the CD = 2000$

The amount of money deposited in the saving account = 4000$

Hope this helps. :D

The amount of money deposited in the saving account = 4000$

Hope this helps. :D