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21 May, 08:02

Question 2 of 10

2. Albert has inherited $45,500 and he decided to invest part of his inheritance in a well-

respected mutual fund while keeping the remaining part of his inheritance in a certificate

of deposit. If Albert's amount that he invested in this certificate of deposit is $3,500 more

than six times the amount he invested in the mutual fund, calculate the amount he

invested in each account.

A. O $6,000 and $39,500

B. O $4,970 and $40,530

C. O $4,409 and $41,091

D. O $6400+39,100

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Answers (1)
  1. 21 May, 10:27
    0
    Amount Albert invested in each account is A. $6000 and $39500

    Step-by-step explanation:

    Given total inherited amount = $45500

    let amount invested in mutual fund = x

    we are given that the amount invested in certificate of deposit is $3500 more than six times of that invested in mutual fund so it can be written = $3500 + 6x

    Summing the above two gives total amount, So

    x + 3500 + 6x = 45500

    => 7x = 45500-3500

    => 7x = 42000

    => x = 6,000

    and 6x + 3500 = 39500

    So, amount invested in mutual fund = 6,000$ and that in certificate of deposit = $39,500
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