Solve the Problem. -Paul Has $20,000 to Invest. He Puts X Dollars in X

question 94

Multiple Choice

Solve the problem.
-Paul has $20,000 to invest. He puts x dollars in a safe government-insured certificate of deposit paying 5% per year. He invests the remainder of the money in noninsured corporate bonds paying 12% per year. His total interest earned at the end of the year is given by the algebraic expression 0.05x + 0.12(20,000 - x) . Determine the amount of interest earned at the end of the year if he invests $6000 in the government-insured certificate of deposit.

• A) $3420
• B) $1782
• C) $2820
• D) $1980

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Definitions:

Target Completion Date

The specifically designated day by which a task or project is expected to be finished.

Diverse Demography

Refers to the presence of a wide range of differences among a population's members, including age, race, gender, ethnicity, and so on.

Homogeneous Teams

Groups whose members have similar backgrounds, skills, experiences, and perspectives, which can foster unity but limit diversity and creativity.

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Informal groups are unofficial and emerge to serve special interests.