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16 July, 23:18

a mother wants to invest 11,000 for her sons future education. she invest a portion of the money in a bank cd which earns 4% and the remainder in a savings bond that earns 7%. the total interest earned is 660.00 how much was invested into the cd

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  1. 16 July, 23:36
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    Suppose, the mother deposits x amount in bank cd and y amount in savings bond so that,

    x + y = 11000

    or, y = 11000 - x ... (1)

    according to question,

    4% of x + 7% of y = 660

    or, 4x/100 + 7y/100 = 660

    or, 4x + 7y = 66000 ... (2)

    now substitute y in equation (2) with the value in equation (1) so we get

    4x + 7 (11000 - x) = 66000

    or, 4x + 77000 - 7x = 66000

    or, 4x - 7x = 66000 - 77000

    or, - 3x = - 11000

    or x = 11000/3

    or x = 3666.67

    Thus, 3666.67 is the amount invested in bank cd.
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