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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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%
anoual 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
Mutual:
C. of D.:
4)
How many liters of 20% alcohol solution should be added to 40 liters of a 50% alcohol solution to make a 30%
solution?
Solution strength (%)
Liters
Total liters of % acid](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F305ead19-9cf2-471a-ae81-3c71f5543939%2F95a579a1-3f14-45d2-8348-9447d3aa3c14%2Fpwlhyh_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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%
anoual 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
Mutual:
C. of D.:
4)
How many liters of 20% alcohol solution should be added to 40 liters of a 50% alcohol solution to make a 30%
solution?
Solution strength (%)
Liters
Total liters of % acid
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