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Solve the Problem $1500\$ 1500 Certificate of Deposit $3000\$ 3000 Money Market $10,500\$ 10,500

Question 85

Multiple Choice

Solve the problem.
-Ms. Adams received a bonus check for $15,000. She decided to divide the money among three different investments. With some of the money, she purchased a municipal bond paying 5.6% simple interest. She
Invested twice the amount she paid for the municipal bond in a certificate of deposit paying 4.7% simple
Interest. Ms. Adams placed the balance of the money in a money market account paying 3.2% simple
Interest. If Ms. Adams' total interest for one year was $561, how much was placed in each account?


A) municipal bond: $1500\$ 1500
certificate of deposit: $3000\$ 3000
money market: $10,500\$ 10,500
B) municipal bond: $1000\$ 1000
certificate of deposit: $2000\$ 2000
money market: $12,000\$ 12,000
C) municipal bond: $2000\$ 2000
certificate of deposit: $4000\$ 4000
money market: $9000\$ 9000
D) municipal bond: $1250\$ 1250
certificate of deposit: $2500\$ 2500
money market: $11,250\$ 11,250

Correct Answer:

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