Amount of money deposited in the two accounts is 80% of 7500$. Amount of money in the two accounts = 0.8 * 7500 = 6000$
Now assume that the amount deposited in CD account is m and the amount deposited in the saving bond is n. m + n = 6000 Therefore: m = 6000 - n ................> equation I
Now we write another equation expressing the savings: 0.04m + 0.07n = 360 ............> equation II
Substitute with equation I in equation II: 0.04 (6000-n) + 0.07n = 360 240 - 0.04n + 0.07n = 360 0.03n = 120 n = 4000 $
Substitute with n in equation I to get the value of m as follows: m = 6000 - n = 6000 - 4000 = 2000
Based on these calculations: The amount of money deposited in the CD = 2000$ The amount of money deposited in the saving account = 4000$
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