SOLUTION: The Rileys have $27,000 to invest. they intend to invest part of the money in certificates of deposit at 8.5% and the remainder in a savings account at 5%. If they wish to receive

Question 157607: The Rileys have $27,000 to invest. they intend to invest part of the money in certificates of deposit at 8.5% and the remainder in a savings account at 5%. If they wish to receive the same income from each investment, how much should they invest in each?
Found 2 solutions by checkley77, josmiceli:
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.085X=.05(27,000-X)
.085X=1,350-.05X
.085X+.05X=1,350
.135X=1,350
X=1,350/.135
X=10,000 INVESTED @ 8.5%
27,000-10,000=17,000 INVESTED @ 5%
PROOF:
.085*10,000=.05*17,000
850=850 AMOUNT OF INTEREST FROM EACH ACCOUNT.

Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested at 8.5%
Let = amount invested at 5%
= income from 1st investment
= income from 2nd investment
It is given that

They should invest $10,000 @ 8.5% and $17,000 @ 5%
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