Fernando invested money in a 3-yr CD (certificate of deposit) that returned the equivalent of 5.6% simple interest. He invested $3000 less in a 30-month CD that had a 1% simple interest return. If the total amount of interest from these investments was $793.50, determine how much was invested in each CD. Fernando invested $ in the 3-yr CD and $ in the 30-month CD.

Fernando invested money in a 3-yr CD (certificate of deposit) that returned the equivalent of 5.6% simple interest. He invested $3000 less in a 30-month CD that had a 1% simple interest return. If the total amount of interest from these investments was $793.50, determine how much was invested in each CD. Fernando invested $ in the 3-yr CD and $ in the 30-month CD.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...

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