Multiple Choice
Lured by the ad in the illustration below, a woman invested $11,100, some in a money market account and the rest in a 5-year CD. How much was invested in each account if the income from both investments is $978 per year? First Republic Savings and Loan Account Rate NOW 5.5% Savings 7.5% Money market 8.0% Checking 4.0% 5-year CD 9.0%
A) $2,700 in the money market account, $8,400 in the CD
B) $1,900 in the money market account, $9,200 in the CD
C) $1,600 in the money market account, $9,500 in the CD
D) $1,800 in the money market account, $9,300 in the CD
E) $2,100 in the money market account, $9,000 in the CD
Correct Answer:

Verified
Correct Answer:
Verified
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