document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=280222>Question 280222</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A credit union offers 5.5% simple interest on a ceritificate of deposit (CD) and 3.5% simple interest on a savings account.  If Mr. Sorkin invested $200 more in the CD than in the savings account, and the total interest after the first year was $245, how much was invested in each account?<BR>\n" );
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document.write( "I came up with 0.055(x + 200) + 0.035y=645 & (x + 200) + y = 1200, assuming that 1000 is needed to open a CD...<BR>\n" );
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document.write( "Do we presume that the intial invested in the CD is 1000 plus 200?  Some people don't even know that most CD's is a minimum of a 1000 to open the account.  I don't think so, let me know what you think when possible.<BR>\n" );
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document.write( "Thanks,<BR>\n" );
document.write( "Alex Vargas<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #203669 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=203669\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  credit union offers 5.5% simple interest on a ceritificate of deposit (CD) and 3.5% simple interest on a savings account. If Mr. Sorkin invested $200 more in the CD than in the savings account, and the total interest after the first year was $245, how much was invested in each account?<BR>\n" );
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document.write( "Equation:<BR>\n" );
document.write( "interest + interest = 245 dollars<BR>\n" );
document.write( "0.055(x+200) + 0.035x = 245<BR>\n" );
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document.write( "Multiply thru the equation by 1000 and solve for \"x\":<BR>\n" );
document.write( "55x + 55*200 + 35x = 24500<BR>\n" );
document.write( "90x = 13500<BR>\n" );
document.write( "x = 150 (amt. invested in CD's)<BR>\n" );
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document.write( "x+200 = 350 (amt. invested in savings)<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.\r<BR>\n" );
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