Shawn has $15,000 to invest. She will put some of it into a fund that pays 4.5% annual interest and the rest in a certificate of deposit that pays 1.8% annual interest. How much should she invest in each account if she wants to earn 4.05% annual interest on the total amount?

Shawn has $15,000 to invest. She will put some of it into a fund that pays 4.5% annual interest and the rest in a certificate of deposit that pays 1.8% annual interest. How much should she invest in each account if she wants to earn 4.05% annual interest on the total amount?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.3: Solve Mixture Applications

Problem 3.65TI: Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other...

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