Travis Has a Savings Account That His Parents Opened for Him

question 11

Multiple Choice

Travis has a savings account that his parents opened for him. It pays 6% annual interest. His uncle also opened an account for him, but it pays 12% annual interest. If there is $500 more in the account that pays 6%, and the total interest from both accounts is $102, how much money is in each of the accounts?

• A) $965 invested at 6%, $465 invested at 12%
• B) $900 invested at 6%, $400 invested at 12%
• C) $700 invested at 6%, $200 invested at 12%
• D) $1,000 invested at 6%, $500 invested at 12%
• E) $894 invested at 6%, $394 invested at 12%

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Definitions:

Raw Materials

Basic substances in their natural, modified, or semi-processed states, used as inputs to a production process for manufacturing finished goods.

Quality Control

A process through which a business seeks to ensure that product quality is maintained or improved and manufacturing errors are reduced or eliminated.

Visual Inspection

The process of examining objects, components, or materials for defects using human sight, sometimes assisted by optical instruments.

Mass Production

A manufacturing process characterized by the high volume production of standardized goods using assembly line techniques.