SOLUTION: Hello, word problem get me everytime. I never know how to set them up.
Ash has $120,000 to invest and puts some in a CD at 4% annual interest. He puts the rest in a stock that
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Question 223456: Hello, word problem get me everytime. I never know how to set them up.
Ash has $120,000 to invest and puts some in a CD at 4% annual interest. He puts the rest in a stock that earns 7%. How much did he invest in each to earn $7800 interest that year?
Thank you in advance
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
.04x+.07(120000-x)=7800
.04x+8400-.07x=7800
-.03x=-600
x=$20,000
120000-x=$100,000
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