Solve the Problem $\$ 1500$ Certificate of Deposit $\$ 3000$ Money Market $\$ 10,500$

question 85

Multiple Choice

Solve the problem.
-Ms. Adams received a bonus check for $15,000. She decided to divide the money among three different investments. With some of the money, she purchased a municipal bond paying 5.6% simple interest. She
Invested twice the amount she paid for the municipal bond in a certificate of deposit paying 4.7% simple
Interest. Ms. Adams placed the balance of the money in a money market account paying 3.2% simple
Interest. If Ms. Adams' total interest for one year was $561, how much was placed in each account?

• A) municipal bond: \(\$ 1500\)
• certificate of deposit: \(\$ 3000\)
• money market: \(\$ 10,500\)
• B) municipal bond: \(\$ 1000\)
• certificate of deposit: \(\$ 2000\)
• money market: \(\$ 12,000\)
• C) municipal bond: \(\$ 2000\)
• certificate of deposit: \(\$ 4000\)
• money market: \(\$ 9000\)
• D) municipal bond: \(\$ 1250\)
• certificate of deposit: \(\$ 2500\)
• money market: \(\$ 11,250\)

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Definitions:

Charitable Organizations

Nonprofit entities that operate to promote philanthropic goals such as advancing education, relieving poverty, or improving social welfare.