SOLUTION: You save money from a job. You invest some of it in a cd account that yields 8% interest yearly and the rest in a bond that yields 6% interest yearly
C=the amount of money invest
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C=the amount of money invest
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Question 234341: You save money from a job. You invest some of it in a cd account that yields 8% interest yearly and the rest in a bond that yields 6% interest yearly
C=the amount of money invested in the cd and B=the amount invested on the bond. You earn $84 interest in a year
Write an equation relating C,B and the amount of money earned Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! .08C+.06B=84
WITHOUT ANY ADDITIONAL INFORMATION YOU HAVE ONE EQUATION WITH 2 UNKNOWNS WHICH WILL NOT YIELD A UNIQUE SOLUTION.
THERE ARE ALMOST AN INFINITE NUMBER OF POSSIBLE SOLUTIONS HERE.
EXAMPLES:
LET C=1000 & B=66.67
.08*1000+.06*66.67=84
80+4=84
84=84
OR:
B=500
C=675
675*.08+.06*500=84
54+30=84
84=84
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