document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=670470>Question 670470</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Your grandmother needs your help. She has $50,000 to invest. Part of this money is to be invested in noninsured bonds paying 15% annual interest. The rest of this money is to be invested in a government-insured certificate of deposit paying 7% annual interest. She told you that she requires a total $6000 per year in extra income from these investments. How much money should be placed in each investment  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #416950 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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/cgi-bin/show-face.mpl?user=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=416950\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Part I	15.00%		per annum	-------------	Amount invested =x<BR>\n" );
document.write( "Certificates	7.00%		per annum	------------	Amount invested = y<BR>\n" );
document.write( "	50000				<BR>\n" );
document.write( "Interest-----	6000				<BR>\n" );
document.write( "					<BR>\n" );
document.write( "Part I	15.00%		per annum	---x	<BR>\n" );
document.write( "Certificates	7.00%		per annum	---y	<BR>\n" );
document.write( "Total investment					<BR>\n" );
document.write( "x	+	1	y=	50000	-------------1<BR>\n" );
document.write( "Interest on both investments					<BR>\n" );
document.write( "15.00%	x	+	7.00%	y=	6000<BR>\n" );
document.write( "Multiply by		2			<BR>\n" );
document.write( "15	x	+	7	y=	600000.00<BR>\n" );
document.write( "Multiply (1) by			-15		<BR>\n" );
document.write( "we get					<BR>\n" );
document.write( "-15	x	-15	y=	-750000.00	<BR>\n" );
document.write( "Add this to (2)					<BR>\n" );
document.write( "0	x	-8	y=	-150000	<BR>\n" );
document.write( "divide by		-8			<BR>\n" );
document.write( "			y	=	18750<BR>\n" );
document.write( "Part I	15.00%	$	31250		<BR>\n" );
document.write( "Certificates	7.00%	$	18750		<BR>\n" );
document.write( "					<BR>\n" );
document.write( "CHECK					<BR>\n" );
document.write( "31250	---------	15.00%	-------	4687.50	<BR>\n" );
document.write( "18750	-------------	7.00%	-------	1312.50	<BR>\n" );
document.write( "Total	--------------------	6000.00	<BR>\n" );
document.write( "					<BR>\n" );
document.write( "m.ananth@hotmail.ca					<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );