Multiple Choice
Solve the problem.
-Kevin invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total interest for that year was $900, how much did Kevin invest in the mutual fund?
A) $4000
B) $7000
C) $6000
D) $5000
Correct Answer:
Verified
Correct Answer:
Verified
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