Question

Question 2 of 10

2. Albert has inherited $45,500 and he decided to invest part of his inheritance in a well-
respected mutual fund while keeping the remaining part of his inheritance in a certificate
of deposit. If Albert's amount that he invested in this certificate of deposit is $3,500 more
than six times the amount he invested in the mutual fund, calculate the amount he
invested in each account.
A. O $6,000 and $39,500
B. O $4,970 and $40,530
C. O $4,409 and $41,091
D. O $6400+39,100

Answer 1

Amount Albert invested in each account is A. $6000 and $39500

Explanation:

Given total inherited amount = $45500

let amount invested in mutual fund = x

we are given that the amount invested in certificate of deposit is $3500 more than six times of that invested in mutual fund so it can be written = $3500 +6x

Summing the above two gives total amount, So

x + 3500 + 6x = 45500

=> 7x = 45500-3500

=> 7x = 42000

=> x = 6,000

and 6x + 3500 = 39500

So, amount invested in mutual fund = 6,000$ and that in certificate of deposit = $39,500