Ms. Adams received a bonus check for $12,000. She decided to divide the money among three different investments. With some of th

Question

3 years ago

5

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

Mathematics

2 answers:

ASHA 777 [7] · Answer 1 · 2022-05-24T19:03:31+03:00

ASHA 777 [7]3 years ago

4 0

I believe the answer is d. <span>municipal bond: $ 1750 certificate of deposit: $ 3500 money market: $ 6750</span>

olganol [36] · Answer 2 · 2022-05-24T21:16:17+03:00

olganol [36]3 years ago

4 0

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

The answer is c
Hope it helps