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lara [203]
3 years ago
11

A mother wants to invest $6000 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 $360, how much money was invested at each rate?
Mathematics
1 answer:
faltersainse [42]3 years ago
6 0
0.04x+0.07(6000-x)=360
0.04x+420-0.07x=360
0.04x-0.07x=360-420
−0.03x=−60
X=60/0.03=2,000 at 4%
6000-2000=4000 at 7%

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Let's assume the required fraction to be x/4 such that x/4 is less than 7/12.

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2/4 is simplified to 1/2 and the question says to have denominator 4.

Hence, final answer is 1/4

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