3.) An investor deposited an amount of money into a certificate of deposit that returns a 2% annual simple interest rate. A second deposit, $4500 more than the first, was placed in a mutual fund that returns an 8% a0oual simple interest rate. The total interest earned on both investments for one year was $680. How much money was deposited in each account? Principal Rate (%) Time Interest Mutual Fund Certificate of Deposit

3.) An investor deposited an amount of money into a certificate of deposit that returns a 2% annual simple interest rate. A second deposit, $4500 more than the first, was placed in a mutual fund that returns an 8% a0oual simple interest rate. The total interest earned on both investments for one year was $680. How much money was deposited in each account? Principal Rate (%) Time Interest Mutual Fund Certificate of Deposit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A-1
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