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D account) that earns 4% and the remainder in a savings bond that earns 7%. If the tota ar is $300.00, how much money was invested at each rate? money was invested in the CD account? the nearest cent.)

D account) that earns 4% and the remainder in a savings bond that earns 7%. If the tota ar is $300.00, how much money was invested at each rate? money was invested in the CD account? the nearest cent.)

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 61SE: Last year, at Haven's Pond Car Dealership, for a particular model of BMW, Jeep, and Toyota, one...
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A mother earned $6250.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that 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 at each rate? How much money was invested in the CD account? $ (Round to the nearest cent.) Y Mail 8 BigLaps 5 Drinks Attack, A According heart atta Hotmail
Transcribed Image Text:A mother earned $6250.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that 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 at each rate? How much money was invested in the CD account? $ (Round to the nearest cent.) Y Mail 8 BigLaps 5 Drinks Attack, A According heart atta Hotmail
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