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Remainder in a savings bond

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A mother wants to invest $8,000 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 $480.00, how much money was invested in the CD account?

Round to the nearest cent, if necessary.

Reference no: EM131171645

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