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Jessica Has $14500 to Invest and Decides to Put Some

Question 241

Multiple Choice

Jessica has $14500 to invest and decides to put some in a CD that earns 1.5% interest per year and the rest in a low risk stock that earns 1.8%. How much did she invest to earn $247.65 interest in the first year?


A) $7,504.55 at 1.5% and $6,995.45 at 1.8%
B) $10,050 at 1.5% and $4,450.00 at 1.8%
C) $4,450.00 at 1.5% and $10,050 at 1.8%
D) $6,995.45 at 1.5% and $7,504.55 at 1.8%

Correct Answer:

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