A mother earned $11250.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be used for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) that earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $540.00 , how much money was invested at each rate?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A mother earned $11250.00 from royalties on her cookbook. She set aside 20% of this for a down payment on a new home. The balance will be ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Define a cash budget
Answers (1)
Choose all that apply. The main types of financial institutions are 1) savings and loans 2) banks 3) stock firms 4) financial advisors 5) credit unions isn't it 2,5,3,
Answers (1)
Which of the following are likely to participate in an organization's buying center? The purchasing manager Consumers who frequently make large purchases A seller An employee from another functional area
Answers (1)
Your seller clients have received an offer, and the buyer has included a pre-approval letter. Your clients are a little confused and think a pre-qualification letter is necessary. What's true regarding pre-approval and pre-qualification?
Answers (1)
During 2020, Wildhorse Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Wildhorse for a lump sum of $29,925 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock.
Answers (1)
New Questions in Business
Match the following definitions with the correct term 1. Delocalization of food production and consumption connections 2. The process of learning culturally specific preferences passed from generation to generation 3.
Answers (1)
Adobe Systems Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013.
Answers (1)
A Trek Cycles manufactures and sells bicycles to retailers. The X-1 model sells for $500 and has per-unit variable costs of $300 associated with its production. The company has fixed expenses of $30,000 per month.
Answers (1)
A firm supplies aircraft engines to the government and to private firms. It must decide between two mutually exclusive contracts. If it contracts with a private firm, its profit will be $2 million, $1 million, or - $1 million with probabilities. 25,.
Answers (1)
Important business data that is not known to the public is considered what type of information?
Answers (1)