You are at a restaurant and the check comes to a total of $20. If you want to leave a 20% tip, how much total money should you p
1 answer:
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Jack should invest $8400 in the CD account and $3600 in the savings account.
Step-by-step explanation:
Jack wants to earn 7.5% interest per year. That implies he wants to earn
7.5/100*12000 per year i.e $900 per year.
Lets assume he invests X amount in the savings account. That leaves 12000-X to be invested in the CD account.
That implies,
=>
=>
=> X = 3600