Question: A mother earned $ 1 6 2 5 0 . 0 0 from royalties on her cookbook. She set aside 2 0 % of this

A mother earned $

16250.00

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 $

780.00,

how much money was invested at each rate?

How much money was invested in the CD account?

A mother earned $16250.00 from royalties on her cookbook. She set

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