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Interest/Mathematics

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March 18th, 2023

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A mother wants to invest 13,000.00 for her son’s future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $780.00 how much money was invested in the CD account? (Round to the nearest cent)

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