0
Jane invests 5000. She invests some in a CD which earns 4 percent and the rest in a savings bond that earns 7 percent. How much money was invested in CD if total interest earned after one year is 300?
Updated: 11/1/2022
Wiki User
∙ 7y agoBest Answer
Take a breath, and start thinking of things in mathematical terms
- The amount invested in the CD is unknown, so we can call it X.
- The amount invested in the Savings Bond (SB) is the remainder, so we can call it (5000 - X).
- The interest on the CD for one year is 0.04 times X or 0.04X.
- The interest on the SB for one year is 0.07 times (5000 - X) or 0.07(5000 - X).
- You know the total interest from both for the year is 300, so you now can make an equation:
0.04X + 0.07(5000 - X) = 300
All you need to do is expand the expression and move the variable to one side of the equation and solve for X.
Wiki User
∙ 7y agoThis answer is:
More answers
Wiki User
∙ 7y agoThere is no precise answer. The best approximation is 1666.67.
This answer is:
Add your answer:
Earn +20 ptsQ: Jane invests 5000. She invests some in a CD which earns 4 percent and the rest in a savings bond that earns 7 percent. How much money was invested in CD if total interest earned after one year is 300?
Write your answer...
Submit
Still have questions?
Continue Learning about Math & Arithmetic
Harry has 4000 invested in two savings accounts One account earns 6 percent interest per year and the other pays 7 percent per year If his total interest for the year is 264 how muchs vested 7?
$2400
1000 dollars is invested in a savings account that pays 9 percent interest per year The interst earned after the first year is added to the account How much interest is earned on the following year?
$98.10 in interest is earned in the following year.Year One:$1000 x 0.09 = $90$1000 + $90 = $1090Year Two:$1090 x 0.09 = $98.10
Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?
177.50
In 1960 the inflation rate was about 5.1. If you invested in a savings account with an annual interest rate of 4.9 what was the real growth rate of this investment?
A real "growth" of -0.0019%, approx.
What would be the yearly earnings for a person with 6000 in savings at an annual interest rate at 5.5 percent?
$330.00
Related questions
Harry has 4000 invested in two savings accounts One account earns 6 percent interest per year and the other pays 7 percent per year If his total interest for the year is 264 how much is invested at?
2,400
Jerry invested 14000 in a certificate of deposit at 5 percent he also put 2500 in a savings account at 3 percent how much interest will he earn after?
775
How much more will 28000 earn in interest than 16000 if both are invested in savings accounts with APYs of 5.8 percent for a year?
696,00
JP is going to invest some money into a savings account He knows that the more that he invests the larger the amount of interest he will earn?
The amount of interest J.P. will earn is a function of the amount he invests.
Jerry invested 14000 in a certificate of deposit at 5 percent He also put 2500 in a savings account at 3 percent How much interest will he earn after one year?
$775
Sharon invested 4000 in a certificate of deposit at 5 percent She also put 500 in a savings account at 3 percent How much interest will she earn after one year?
215
Jackie invested 12000 in a certificate of deposit at 6 percent She also put 3000 in a savings account at 3 percent How much interest will she earn after one year?
$810
How much more will 2200 earn in interest than 1400 if they both invested a savings account with APY 5.4 percent for a year?
$43.20 more
Harry has 4000 invested in two savings accounts One account earns 6 percent interest per year and the other pays 7 percent per year If his total interest for the year is 264 how muchs vested 7?
$2400
Savings account A has 1500 and pays 3.5 percent interest yearly Savings account B has 1400 and pays 4 percent interest yearly The savings account that earned the most interest after one year is?
Account B
Jennifer invested 3300 in a savings account with a yearly interest rate of 6 for 9 years How much simple interest did she earn?
$2275.28
Pam invested 4200 in a savings account with a yearly interest rate of 4 for 7 years How much simple interest did she earn?
$1326.91
Copyright ©2024 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.