SOLUTION: After winning $60,000 in the lottery, a retired teacher gave $10,000 of it to her grandchildren. She invested part of the remainder in a growth fund that earned 4.4% annually and t

Question 896017: After winning $60,000 in the lottery, a retired teacher gave $10,000 of it to her grandchildren. She invested part of the remainder in a growth fund that earned 4.4% annually and the rest in certificates of deposit paying a 5.8% annual percentage yield. The interest that she received on these two investments totaled $2,732 at the end of the first year. Find the amount of each investment.
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
$60,000-$10,000=$50000
a+b=50000,
.044*a+.058*b=2732
a=12000., b=38000.

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