William has $14,550 to invest and decides to put some in a CD that earns 2.25% interest per year and the rest in a low risk stock that earns 3.4%. How much did he invest to earn $395.225 interest in the first year?
A) $6995.13 at 2.25% and $7554.87 at 3.4%
B) $5900 at 2.25% and $8650 at 3.4%
C) $8650 at 2.25% and $5900 at 3.4%
D) $7554.87 at 2.25% and $6995.13 at 3.4%
Correct Answer:
Verified
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