Julian invested money in a 4-yr CD (certificate of deposit) that returned the equivalent of 3.9% simple interest. He invested $4000 less in a 6-month CD that had a 2% simple interest return. If the total amount of interest from these investments was $790.00, determine how much was invested in each CD.
Julian invested money in a 4-yr CD (certificate of deposit) that returned the equivalent of 3.9% simple interest. He invested $4000 less in a 6-month CD that had a 2% simple interest return. If the total amount of interest from these investments was $790.00, determine how much was invested in each CD.
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...
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Julian invested money in a 4-yr CD (certificate of deposit) that returned the equivalent of 3.9% simple interest. He invested $4000 less in a 6-month CD that had a 2% simple interest return. If the total amount of interest from these investments was $790.00, determine how much was invested in each CD.
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