How much money was invested in the CD account?

Algebra
Tutor: None Selected Time limit: 1 Day

A mother wants to invest $15,000.00 for her sons future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $900.00, how much money was invested in the CD account?

May 24th, 2015

total amount of money=15000=100%

rate of interest in CD=4%

rate of interest in savings bound=7%

total interest yearly=900

x(4%)+x(7%)=900

4x+7x=11x=900

x=81.8

7x=?

81.8*7=572dollars


May 24th, 2015

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May 24th, 2015
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May 24th, 2015
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