Question: Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind

Problems 76–85 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam.

Ethan has $60,000 to invest. He puts part of the money in a CD that earns 3% simple interest per year and the rest in a mutual fund that earns 8% simple interest per year. How much did he invest in each if his earned interest the first year was $3700?

Step by Step Solution

★★★★★

3.41 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Let x represent the amount of money invested in a mutual fund Then 60000x r... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related College Algebra Questions!

Problems 98106 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. The...

Problems 154162 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam....

Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam....

Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. Find...

Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. ...

Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. Solve:...

Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam....

Problems 7685 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. 2...

Read the Case of Family Opposition to Organ Donation and write a paper in which you address the following; 1: Provide a brief summary of the article. 2: Identify and describe major ethical dilemma...

After earning some money baby -sitting, a student spends $1.75 at the school store, $6.50 at the book fair, and $2 in the soda machine. If he has $4.75 left over, how much money did he earn in the...

The management of Robust Properties has asked you to prepare preliminary pro forma financials for the next year. Specifically, you should have ( 1 ) a beginning balance sheet, ( 2 ) operating...

Visit the following collection of business reports: http:// www.technologyreview.com/businessreports/ . In small groups, choose a report and answer the following questions: How many of the...

The cost to hire a caterer for a party depends on the number of guests attending. If 100 people attend, the cost per person will be $20. For each person less than 100, the cost will increase by $5....

Let (x) = 3x 2 - 4 and g(x) = x 2 - 3x - 4. Find each of the following. The domain of (f/g) (x)

A software author invests his royalties in two accounts for 1 yr. (a) The first account pays 2% simple interest. If he invests x dollars in this account, write an expression for y 1 in terms of x,...

A company established a petty cash fund of $400 on September 1. On September 10, the petty cash fund was replenished when there was $16 remaining and there were petty cash receipts for: office...

On January 1, Vaughn Manufacturing had 2300000 shares of $10 par value common stock outstanding. On March 31 the company declared a 15% stock dividend. Market value of the stock was $17/share. As a...

Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $50,900 on a corporation's common stock are July 9, August 31, and October 1. Journalize...