Solve the Problem. -Paul Has $20,000 to Invest. He Puts X Dollars in X

Multiple Choice

Solve the problem.
-Paul has $20,000 to invest. He puts x dollars in a safe government-insured certificate of deposit paying 5% per year. He invests the remainder of the money in noninsured corporate bonds paying 12% per year. His total interest earned at the end of the year is given by the algebraic expression 0.05x + 0.12(20,000 - x) . Determine the amount of interest earned at the end of the year if he invests $6000 in the government-insured certificate of deposit.

A) $3420
B) $1782
C) $2820
D) $1980