Solve. -Kevin Invested Part of His $10,000 Bonus in a Certificate

question 180

Multiple Choice

Solve.
-Kevin invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total Interest for that year was $900, how much did Kevin invest in the mutual fund?

• A) $7000
• B) $4000
• C) $6000
• D) $5000

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Definitions:

Buffers

Solutions or substances that minimize changes in pH when acids or bases are added to them, maintaining stability in biological and chemical systems.

Neutralization Reaction

A chemical reaction in which an acid and a base react to form water and a salt, achieving a balanced pH.

Salt

An ionic compound resulting from the neutralization reaction of an acid and a base, commonly exemplified by sodium chloride.

Water

A clear, flavorless, scentless, and almost colorless substance that forms the primary part of the Earth's hydrosphere and the liquids within most living beings.