document.write( "Question 975989: This one is a tough one.
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document.write( "A mother earned $8750.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $420.00, how much money was invested at each rate? How much money was invested in the CD account? \n" );
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Algebra.Com's Answer #597660 by solver91311(24713)![]() ![]() You can put this solution on YOUR website! \r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "She started with $8750, 20% of which is $1760 for the downpayment leaving $6990 to invest.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Let \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "The return on the 7% investment is then \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "So:\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Solve for \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Still think it is a tough one?\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "John \n" ); document.write( " \n" ); document.write( "My calculator said it, I believe it, that settles it\r \n" ); document.write( "\n" ); document.write( " |