Mark M. answered • 10/13/22
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0.03x + 0.05(11000 = x) = 385
Can you solve for x and answer?
Kayla E.
asked • 10/13/22A mother wants to invest $11,000 for her son's future education.
A mother wants to invest $11,000 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns %3 simple interest and the remainder in a savings bond that earns %5 simple interest. If the total interest earned after one year is $385 how much money was invested in each account?
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Paul H.
The first "=" sign is a typo -- should have been a minus sign, where the variable "x" is the amount put in at 3% and then "11000 - x" is the rest of the $11,000 that was put into the 5% account.10/16/22