A mother wants to invest $11,000 on her childs education, she invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and the rest in a savings bond that earns 7% If the total interest earned is $660, how much was invested at each rate?

Question

anonymous · Answer

660=.04a+(11000-a)*.07

anonymous · Answer

a+b=11,000..a and b are the two parts of the 11000
a=11000-b...solve for a
.04a+.07b=660....formula for the interest total
.04(11000-b)+.07b=660...plug in a and solve for b, then refer back to first equation to get a

anonymous · Answer

660=-.03a+770
110=.03a

anonymous · Answer

What is the Amount for the CD account, the 110=3666.68 right?