SOLUTION: Benjamin invested $12,000 in two CDs. One earned 4% and the other earned 6%. If he earned a total of $620 at the end of the year, how much was invested in each CD? Solve using line
Algebra.Com
Question 262878: Benjamin invested $12,000 in two CDs. One earned 4% and the other earned 6%. If he earned a total of $620 at the end of the year, how much was invested in each CD? Solve using linear systems
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Benjamin invested $12,000 in two CDs. One earned 4% and the other earned 6%. If he earned a total of $620 at the end of the year, how much was invested in each CD? Solve using linear systems
Let us assume he invested x in CD1 at 4%
12000-x he invested in CD2 at 6%
0.4x+0.6(1200-x) = 620
0.4x +720 – 0.6x = 620
-0.2x= -100
X= -1000/-0.2
X= 5000 cd1
CD1 $5000
CD2 he invested $7000
RELATED QUESTIONS
Lisa invested her lottery winnings of $48 000 in two different mutual funds*. At the end... (answered by Boreal,greenestamps)
Luis invested $6000 in two different accounts. One earned 4% and the other earned 7%. He... (answered by josmiceli,greenestamps)
sue invested 19800in two mutual accounts one earned 6% and one earned 10% at the end of... (answered by mananth)
An investor invested a total of $1800 in two mutual funds. One fund earned a 6% profit... (answered by dragonwalker)
A broker invested a total of $45,000 in two different stocks. One stock earned 9% per... (answered by jorel1380)
Max invested $15,000 in two different funds. One earned 6% interest in the first year and (answered by Boreal)
A state employees' pension fund invested a total of one million dollars in two accounts... (answered by CPhill)
An investor invested a total of 2800 in two mutual funds. One fund earned a 6% profit... (answered by mananth)
an investigator invested a total of $1200 in two mutual funds. One fund earned a 6%... (answered by stanbon,amalm06)