(Answered) A mother wants to invest 8000 for her sons future education

Engineering

A mother wants to invest $8,000 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $480.00, how much money was invested in the CD account?

Round to the nearest cent, if necessary.

View complete question

Computer Engineering, Engineering

Category:- Computer Engineering
Reference No.:- M91926063
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Computer Engineering

Would you help me by giving me some helpful tips about how

Would you help me by giving me some helpful tips about how to study basic C programming in days?

Question need two different postsresponses with 200 words

Question: Need two different posts(responses) with 200 words each on the below topic. 1. Develop a product service idea. A. Describe the product/service including the benefits of using the product/service B. Discuss the ...

What are the key channels by which fiscal policy affects

What are the key channels by which fiscal policy affects output in a closed versus open economy? Using the models studied in class, discuss what is meant by "crowding out", and how the crowding out effect works in an ope ...

What are some of the basic principles involved with

What are some of the basic principles involved with utilizing the ADT stack? What are some applications that could effectively utilize a stack?

Assignmentyou have been requested to develop a healthcare

Assignment You have been requested to develop a healthcare system with the following characteristics: A hospital plans to build a healthcare system, which manages patient information. A hospital has a CEO, 5 doctors, 5 n ...

What are the two potential souces of inefficiency in the

What are the two potential souces of inefficiency in the health care market?

Recommendations what improvements could you offer as an it

Recommendations: What improvements could you offer as an IT leader managing the strategy for the situation covered by the case? Consider time, cost, human capital, and the current status IT within the organization. Maint ...

Question a file is to be shared among different processes

Question : A file is to be shared among different processes, each of which has a unique id number and a priority level number. The file can be accessed simultaneously by several processes, subject to the following constr ...

Design a moore machine where the output y goes high 1 when

Design a Moore machine where the output Y goes high (=1) when the last four bits of the input X were 1110: 4th to last bit seen = 1 3rd to last bit seen = 1 2nd to last bit seen = 1 Last bit seen = 0 Your machine must be ...

Describe the definition of ransomware and what is wannacry

Describe the definition of ransomware. And what is wannacry threat?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Computer Engineering Expert