Question
A mother wants to invest $15,000.00 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD
A mother wants to invest $15,000.00for herson'sfuture education.She invests a portion of the money in a bank certificate of deposit(CDaccount) which earns4%and the remainder in a savings bond thatearns7%.If the total interest earned after one year is$900.00,how much money was invested in the CD account?
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Survey Of Economics, Principles, Applications, And Tools
Authors: Arthur O'Sullivan, Steven M. Sheffrin, Stephen J. Perez
5th Edition
0132556073, 978-0132556071
