Question
A mother wants to invest $ 8000.00 for herson's future education. She invests a portion of the money in a bank certificate of deposit(CD account)
A mother wants to invest $8000.00 for 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 $480.00, how much money was invested in the CDaccount?
The total interest earned after one year is $480.00
How much money was invested in the CDaccount?
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Principles Of Finance
Authors: Besley, Scott Besley, Eugene F Brigham, Brigham
4th Edition
0324655886, 9780324655889
