SOLUTION: Sharon invested $4,000 in a certificate of deposit at 5%. She also put $500 in a savings account at 3%. How much interest will she earn after one year?

SOLUTION: Sharon invested $4,000 in a certificate of deposit at 5%. She also put $500 in a savings account at 3%. How much interest will she earn after one year?

Algebra.Com

Question 352755: Sharon invested $4,000 in a certificate of deposit at 5%. She also put $500 in a savings account at 3%. How much interest will she earn after one year?
Answer by sofiyac(983) (Show Source): You can put this solution on YOUR website!
I=Prt
I=4000*0.05*1=200
I=500*0.03*1=15
After calculating the interest for each investment you add the interests earned.
200+15=215
RELATED QUESTIONS
Sharon invested $4,000 in a certificate of deposit at 5%. She also put $500 in a savings... (answered by rfer)

Jackie invested $12,000 in a certificate of deposit at 6% she also put $3,000 in a... (answered by srinivas.g)

Pep invested x dollars in a savings account and y dollars in a certificate of deposit,... (answered by MathTherapy)

Please help. Sharon invested money in a savings account at a rate of 6% simple interest. (answered by bmauger)

Please help. Sharon invested money in a savings account at a rate of 6% simple interest. (answered by Earlsdon)

Sharon invested money in a savings account at a rate of 6%simple interest. After 1 yr,... (answered by robertb)

Lupe put $12000 in a certificate of deposit that gained interest at a rate of 8.5%.how... (answered by Boreal,jorel1380)

a mother wants to invest $5000 for their children's education. She invests a portion of... (answered by richwmiller)

A mother wants to invest $6,000.00 for her son's future education. She invests a portion (answered by mananth)