Amanda N.

asked • 09/29/14

How much money was invested at each rate?

A mother wants to invest $7000 for her children's 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 at each rate?

1 Expert Answer

By:

Russ P. answered • 09/29/14

Tutor
4.9 (135)

Patient MIT Grad For Math and Science Tutoring

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.