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Solve the Problem. -Kevin Invested Part of His $5000 Bonus in a Certificate

question 320

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Solve the problem.
-Kevin invested part of his $5000 bonus in a certificate of deposit that paid 2% annual simple interest, and the remainder in a mutual fund that paid 4% annual simple interest. If his total interest for that year was $120, how
Much did Kevin invest in the mutual fund?


Definitions:

Kilometers

A unit of length in the metric system, equal to 1,000 meters or approximately 0.62 miles, used to measure distance.

Deposited

The process by which sediments, minerals, and other substances are laid down or settled in a new location.

Slowing

The reduction in speed or rate of an activity or process.

Current

A directional movement of water, which can be caused by temperature, salinity differences, wind, or tidal forces in the ocean.

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