Question: The controller ( money manager ) for a small company puts some money in a bank account paying 4 % per year. He uses some

The controller (money manager) for a small company puts some money in a bank account
paying 4% per year. He uses some additional money, amounting to 13 the amount placed in
the bank, to buy bonds paying 5% per year. With the balance of the funds, he buys a 8%
certificate of deposit. The first year the investments bring a return of $680. If the total of the
investments is $10,000 how much is invested at each rate?
The amount in the bank account is $
the amount in the bonds is $
and the amount in
the certificate of deposit is $
The controller (money manager) for a small company puts some money

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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 Accounting Questions!

Q:

John was recently convicted by a jury of committing fraud against his employer. After the trial, it was revealed that some key evidence against John used in trial was obtained through his employers...

Q:

The controller (money manager) for a small company puts some money in a bank account paying 2% per year. He uses some additionalmoney, amounting to 13 the amount placed in the bank, to buy bonds...

Q:

The controller ( money manager ) for a small company puts some money in a bank account paying 5 % per year. He uses some additional money, amounting to 1 3 the amount placed in the bank, to buy bonds...

Q:

The controller ( money manager ) for a small company puts some money in a bank account paying 3 % per year. He uses some additional money, amounting to 1 3 the amount placed in the bank, to buy bonds...

Q:

1 The controller (money manager) for a small company puts some money in a bank account paying 3% per year. He uses some additional money, amounting to 3 the amount placed in the bank, to buy bonds...

Q:

The controller (money manager) for a small company puts some money in a bank account paying 3% per year. He uses some additional money, amounting to 1/3 the amount placed in the bank, to buy bonds...

Q:

controller (money manager) for a small company puts some money in a bank account paying 5% per year. He uses some addon money, amourtigo te amount placed in the bars, we buy bonds paying on pur per...

Q:

4) Parktown Realty Inc developed an upscale condominium complex. On October 1, Miranda Wine signed an offer to purchase one of the units. Part of that document said, "This offer is irrevocable by the...

Q:

Appendix 5 - Budget at we are very proud of the sales for one of the baskets, the Easter PT Toys has a toy basket line that we are very proud of. The sales for one of occur in March every year. The...

Q:

Please read the article and answer about questions. Why Accounting Matters to Small Business The way many people think of it, what makes a business businesslike is its focus on making money, and in...

Q:

List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...

Q:

Consider the following two mutually exclusive projects available to Global Investments, Inc.: The appropriate discount rate for the projects is 10 percent. Global Investments chose to undertake...

Q:

How did space management evolve from a manual task to category management?

Q:

ABC Corporation acquired a building with a fair market value of $400,000. ABC made a $50,000 cash down payment and signed a 20-year, 6% mortgage for the remainder. The journal entry to record the...

Q:

WHAT IS the cash flow statement BBINFIT ,AND HOW WE CAN ANALAYSES

Q:

=+5. What reader benefits are included?

Q:

=+ Use the you attitude to gain attention in the opening.

Q:

=+a. Describe the flaws in this persuasive request for adjustment.