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sesenic [268]
3 years ago
6

Stephanie inherited $40,000. She wants to put some of the money in a certificate of deposit that pays 2.1% interest per year and

the rest in a mutual fund account that pays 6.5% per year. How much should she invest in each account if she wants to earn 5.4% interest per year on the total amount?
Mathematics
1 answer:
Diano4ka-milaya [45]3 years ago
7 0

$10000 in certificate of deposit

$30000 in mutual funds

Step-by-step explanation:

Step 1:

Total amount Stephanie has inherited = $40000

Let x be the amount she should put in certificate of deposit.

So 40000-x is the amount to be deposited in mutual funds

Step 2:

Total interest she wants to earn is 5.4% of $40000 = 5.4*40000/100 = 2160

Interest from certificate of deposit  = 2.1% of x = 2.1 * x /100

Interest from mutual funds is 6.5% = 6.5(40000-x)/100

Sum of the interest from both these equals 2160

so 2.1 * x /100 + 6.5(40000-x)/100 = 2160

=> 0.021x/100 + 2600-0.065x = 2160

=> -0.044x = -440 => x= 10000

Step 3 :

Hence Stephaine should invest $10000 in certificate of deposit and (40000-10000) = $30000 in mutual funds

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ratelena [41]

Option B: \frac{AB}{BC}=\frac{AE}{ED} is sufficient to prove that BE ll CD

Explanation:

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2 years ago
3. The sum of two numbers 49. The difference of the two numbers is 15. What is the product of the two numbers?
Alborosie

Lets set the two numbers as 'a' and 'b'

Now let us set up some equations based on the information:

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 a - b = 15 -- equation 2

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