Last year, Alan invested his money in two purchases. He purchased a certificate of deposit for
$3000
that paid
5%
interest per year and purchased
$7000
in corporate bonds paying
4%
interest per year.
Answer the questions below. Do not do any rounding.

(a) What was the total interest earned at the end of
1
year?
$

(b) What was the percent interest for his total investment?
%

Question

Last year, Alan invested his money in two purchases. He purchased a certificate of deposit for 
$3000
 that paid 
5%
 interest per year and purchased 
$7000
 in corporate bonds paying 
4%
 interest per year.
Answer the questions below. Do not do any rounding.



(a) What was the total interest earned at the end of 
1
 year?
$
 
(b) What was the percent interest for his total investment?
%

princeharryyy · Answer

use simple interest = principal * rate * time/ 100