Solve the Problem -Ms. Adams Received a Bonus Check for $12,000. She Decided

question 124

Multiple Choice

Solve the problem
-Ms. Adams received a bonus check for $12,000. She decided to divide the money among three different investments. With some of the money, she purchased a municipal bond paying 5.5% simple interest. She invested twice the amount she paid for the municipal bond in a certificate of deposit paying 4.3% simple interest. Ms. Adams placed the balance of the money in a money market account paying 3.3% simple interest. If Ms. Adams' total interest for one year was $480, how much was placed in each account?

• A) municipal bond: $2000
• certificate of deposit: $4000
• money market: $6000
• B) municipal bond: $2500
• certificate of deposit: $5000
• money market: $4500
• C) municipal bond: $1500
• certificate of deposit: $3000
• money market: $7500
• D) municipal bond: $1750
• certificate of deposit: $3500
• money market: $6750

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