If there is $x at 4%, the rest (5000-x) is at 5%
So now, just add up the interest
.04x + .05(5000-x) = 235
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A mother wants to invest $5000 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% simple interest and the remainder in a savings bond that earns 5% simple interest. If the total interest earned after one year is $235, how much money was invested in each account?
1 answer
1 answer