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

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0A. 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

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0@JoannaBlackwelder guess what

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Let the money for the municipal bond be x. Then the money for the COD is twice that, so 2x. The money in the money market account is the remaining balance, so 15,000  x  2x, or 15,000  3x Now we'll make an equation setting the total interest equal to the three rates multiplied by the three amounts. 667.50 = (.058)(x) + (.046)(2x) + (.039)(150003x) Distribute. 667.50 = .058x + .092x + 585  .117x Combine like terms. 667.50 = .033x + 585 Subtract. 82.50 = .033x Divide. 2,500 = x So the amount in the municipal bond is x, or $2,500 The amount in the COD is 2x, or $5,000 And the amount in the money market fund is 15,000  3x, or $7,500

JoannaBlackwelder
 one year ago
Best ResponseYou've already chosen the best response.1Very close! But the total interest is $534

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0so is my answer wrong or do i need to recaculate

JoannaBlackwelder
 one year ago
Best ResponseYou've already chosen the best response.1Recalculate with the correct givens. Your method looks good :)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0man i gotta redo this noooo lol

JoannaBlackwelder
 one year ago
Best ResponseYou've already chosen the best response.1You've almost got it!

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0im re working it now

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0municipal bond: $ 2000 certificate of deposit: $ 4000 money market: $ 6000 is what i got

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0yasssss i didi it thnx to you lol

JoannaBlackwelder
 one year ago
Best ResponseYou've already chosen the best response.1Haha, you did that almost completely by yourself!

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0i hope your on tomorrow haha

JoannaBlackwelder
 one year ago
Best ResponseYou've already chosen the best response.1I should be some. Tag me.
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