SOLUTION: Solve the equation: Ally inherits $65,000 and decides to invest part of it in an education account for her daughter and the rest in a 10-year CD. If the amount she puts in the e

Question 994206: Solve the equation:
Ally inherits $65,000 and decides to invest part of it in an education account for her daughter and the rest in a 10-year CD. If the amount she puts in the education account is $12,000 more than twice the amount she puts in the CD, how much money does Ally invest in each account?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Ally inherits $65,000 and decides to invest part of it in an education account for her daughter and the rest in a 10-year CD. If the amount she puts in the education account is $12,000 more than twice the amount she puts in the CD, how much money does Ally invest in each account?
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In Ed. account: E
In CD account:: C
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Equations:
E + C = 65000
E - C = 12000
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2E = 77000
E = 38500
C = 38500+12000 = 50500
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Cheers,
Stan H.
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