Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.

Get a Professional Answer

Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.

100% Satisfaction Guarantee

Rate the answer you receive.

Ask JamesStone Your Own Question

JamesStone, Analyst, Programmer, Writer

Category: General

Satisfied Customers: 195

Experience: BA English Teaching, Data Analyst 7 Years

20612472

Type Your Question Here...

JamesStone is online now

I have 30,000.00 and want to put 5% into a CD and I want to

Customer Question

I have 30,000.00 and want to put 5% into a CD and I want to put the remainder of 9% in a savings bond, after 1 year the total interest is $550.00. How much money at each rate?

OK sure. If you are investing 5% of $30,000 into a CD, you multiply 30000*.05 = 1500

If you are investing 9% of $30,000 into a Savings Bond, you multiply 30000*.09 = 2700

So if you add up 1500 + 2700, your total monies being invested is 4200.

After one year $550 in interest was accrued based on your principal value of $4200. If you divide 550/4200 you end up with .13095..., which you can round up to 13.1%.

If this is what you were looking for, please let me know. If the question is different, I'm happy to look into that for you.

JamesStone and 34 other General Specialists are ready to help you