Ms. Adams received a bonus check for $12,000. She decided to divide the money among three different investments. With some of th
e money, she purchased a municipal bond paying 5.8% simple interest. She invested twice the amount she paid for the municipal bond in a certificate of deposit paying 4.9% simple interest. Ms. Adams placed the balance of the money in a money market account paying 3.7% simple interest. If Ms. Adams' total interest for one year was $534, how much was placed in each account? A. municipal bond: $ 1500 certificate of deposit: $ 3000 money market: $ 7500 B. municipal bond: $ 2500 certificate of deposit: $ 5000 money market: $ 4500 C. municipal bond: $ 2000 certificate of deposit: $ 4000 money market: $ 6000 D. municipal bond: $ 1750 certificate of deposit: $ 3500 money market: $ 6750
Let the amount of municipal bond be x certificate of deposit 2x money market (the rest) 12000-x-2x Or 12000-3x So .058x+.049(2x)+.037(12000-3x)=534 Solve for x X=2000 municipal bond 2000×2=4000 certificate of deposit 12000-3 (2000)=6000money market
