document.write( "Question 837761: A savings account pays 4% per year, a certificate of deposit pays 5.5% per year. How much is in each account if a total investment of $8250 earns $414 in interest for 1 year? \n" ); document.write( "
Algebra.Com's Answer #504852 by ankor@dixie-net.com(22740)![]() ![]() You can put this solution on YOUR website! A savings account pays 4% per year, a certificate of deposit pays 5.5% per year. \n" ); document.write( " How much is in each account if a total investment of $8250 earns $414 in interest for 1 year? \n" ); document.write( ": \n" ); document.write( "let x = amt invested at 5.5% \n" ); document.write( "then \n" ); document.write( "(8250-x) amt invested at 4% \n" ); document.write( ": \n" ); document.write( ".04(8250-x) + .055x = 414 \n" ); document.write( "330 - .04x + .055x = 414 \n" ); document.write( "-.04x + .055x = 414 - 330 \n" ); document.write( ".015x = 84 \n" ); document.write( "x = 84/.015 \n" ); document.write( "x = $5600 invested at 5.5% \n" ); document.write( "I'll let you find amt at 4%, check the solutions by finding the actual interest earned by each \n" ); document.write( " \n" ); document.write( " |