Problema Solution
A mother wants to invest $5,000 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and a remainder in a savings bond that earns 7%. If the total interest earned after one year is $300, how much money was invest in the CD account?
Answer provided by our tutors
4%ofx +7%of(5000-x) = 300
4x + 35000-7x = 30000
-3x = -5000
x = 5000/3
i.e she invested $ 5000/3 in CD INVESTMENT