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A mother wants to invest $12,000.00 for her son's future education. She invests a portion of the money in a bank certificate of deposit
A mother wants to invest $12,000.00 for her son's 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 $720.00, how much money was invested the CD account? The total interest earned after one year is $720.00. How much money was invested in the CD account? S (Round to the nearest cent, if necessary.)
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Lets assume the amount invested in the CD account is represented by ...
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
