SOLUTION: Karen has a total of $4000, part in a savings account and the rest in a certificate of deposit (CD). Her savings account earns 6.5% interest annually. The CD pays 8% if the money i

Question 872420: Karen has a total of $4000, part in a savings account and the rest in a certificate of deposit (CD). Her savings account earns 6.5% interest annually. The CD pays 8% if the money is invested for 1 year. How much does she have in each investment if her interest earnings for the year will be $297.50?
I need a system of equations to describe this, a related matrix equation, a solution, and how much Karen has in each investment. Thanks! <3
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
.08x + .065(4000 - x) = 297.50
.015x = 32.50
x = 32.50/.015 = $2500 at 8% and $1500 at 6.5%
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