SOLUTION: Dr Patel won a prize for his work. He invested part of the money in a certificate of deposit at 4% and $3000 more than that amount in a bond paying 6%. His annual interest income w
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Question 948315: Dr Patel won a prize for his work. He invested part of the money in a certificate of deposit at 4% and $3000 more than that amount in a bond paying 6%. His annual interest income was $780. How much did Dr Patel invest at each rate?
I have tried 4x+6x(3000)=780
I came up with 4% was 3500 and 6% was 7500.
Thank you for your assistance in showing me what step I am missing in this word problem.
Found 2 solutions by Fombitz, harpazo:
Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
He invested x at 4% and x+3000 at 6%.
at 4%
So then,
at 6%
Answer by harpazo(655) (Show Source): You can put this solution on YOUR website!
.
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