Question

A mother wants to invest $5000 for her son's future education. She invests a portion of...

A mother wants to invest $5000 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 $300.00, how much money was invested in the CD account?

The total interest earned after one year is $300.00.

How much money was invested in the CD account? $______

Homework Answers

Answer #1

HOPE I ANSWERED YOUR QUESTION.

THANK YOU........

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A mother wants to invest $7000 for her son's future education. She invests a portion of...
A mother wants to invest $7000 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 $420, how much money was invested in the CD account? Round to the nearest cent if necessary.
In order to have money for their son's college education, a young couple started a savings...
In order to have money for their son's college education, a young couple started a savings plan into which they made intermittent deposits. They started the account with a deposit of $2,000 (in year zero) and then added $3,000 in years two, five and six. The amount they had in the account in year ten if they earned interest at 12% per year was nearest to:
8) Melissa is planning to invest a total of $25,000 in two accounts. If she invests...
8) Melissa is planning to invest a total of $25,000 in two accounts. If she invests $9,000 in a CD paying 12% annual simple interest, at what rate does the remainder of her money need to be invested so that the two investments together yield at least $1900 in yearly simple interest? (Set up and solve an inequality to answer this question).
a company invested $27,000 putting part of it into a savings account that earns 3.5% annual...
a company invested $27,000 putting part of it into a savings account that earns 3.5% annual simple interest and the remainder in a stock fund that earned 12.9% annual simple interest if the Investments earned $1,415 annually how much was in each account savings account stock fund the annual interest earned on two Investments is $510 one investment is in a 2.1% tax free annual simple interest account the other investment is in a 5.7% annual simple interest CD the...
A company wants to have enough money to purchase a $500,000 piece of land in five...
A company wants to have enough money to purchase a $500,000 piece of land in five years. How much does it have to put into a 4% interest account annually to buy the land? In order to have money for their son's college education, a young couple started a savings plan into which they made a deposit of $2,000. The amount they had in the account in year ten if they earned interest at 12% per year was nearest to:
You decide to invest $1,500 into a certificate of depost (CD), which is a secure bank...
You decide to invest $1,500 into a certificate of depost (CD), which is a secure bank investement option. a.) If you choose a bank advertising a certificate of deposit with 1.2% APR compounded daily, how much money will be in this account at the end of 4 years? b.) If you choose a bank advertising a certificate of deposit with 1.2% APR compounded monthly, how much will be in this account after 4 years? c.) Which CD option has more...
Nico is saving money for his college education. He invests some money at 9?%, and ?$1500...
Nico is saving money for his college education. He invests some money at 9?%, and ?$1500 less than that amount at 6 %. The investments produced a total of ?$225 interest in 1 yr. How much did he invest at each? rate? He invested ?$(blank) nothing at 9?% and ?(blank) nothing at 6?%.
3c3. You need to accumulate $75,706 for your son's education. You have decided to place equal...
3c3. You need to accumulate $75,706 for your son's education. You have decided to place equal year-end deposits in a savings account for the next 5 years. The savings account pays 14.25 percent per year, compounded annually. How much will each annual payment be? Round the answer to two decimal places. 3b3. You plan to buy a house in 13 years. You want to save money for a down payment on the new house. You are able to place $323...
Phyllis invested $8,000, a portion earning a simple interest rate of 3 1/5 % per year...
Phyllis invested $8,000, a portion earning a simple interest rate of 3 1/5 % per year and the rest earning a rate of 3% per year. After one year the total interest earned on these investments was $254.00. How much money did she invest at each rate? at 3 1/5 % per year $ ___________ at 3% per year $______________
Jill would like to plan for her son's college education. She would like for her son,...
Jill would like to plan for her son's college education. She would like for her son, who was born today, to attend college for 5 years, beginning at age 18. Tuition is currently $12,000 per year and tuition inflation is 6%. Jill can earn an after-tax rate of return of 9%. How much must Jill save at the end of each year, if she wants to make the last payment at the beginning of her son's first year of college?...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT