Question
A mother wants to invest $13,000.00for herson's future education. She invests a portion of the money in a bank certificate of deposit(CD account) which earns4%
A mother wants to invest $13,000.00for herson's future education. She invests a portion of the money in a bank certificate of deposit(CD account) which earns4% and the remainder in a savings bond that earns7%. If the total interest earned after one year is $780.00, how much money was invested in the CD account?
The total interest earned after one year is $780.00
How much money was invested in the CD account? $[ ]
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Essentials of Managerial Finance
Authors: Scott Besley, Eugene F. Brigham
14th edition
324422709, 324422702, 978-0324422702
