document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=908190>Question 908190</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Ingrid invested $24,000 in two separate accounts, a mutual fund and a CD that pay 8% and 9% annual interest, respectively. If her annual interest was $2,020 how much did she invest in each account? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #550874 by </B><A HREF=/tutors/aboutme.mpl?userid=AlgebraLady88><B>AlgebraLady88(44)</B></A><img src=\"/images/stars/stars-07.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=AlgebraLady88><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=AlgebraLady88><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=550874\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Here, we see that Ingrid has two separate CD accounts, one paying 8 % and the other paying 9%. Her annual interest is $2 020. She's got two accounts totaling <BR>\n" );
document.write( "$ 24 000 .\r<BR>\n" );
document.write( "\n" );
document.write( "This is a money problem with a systems of equations solution :\r<BR>\n" );
document.write( "\n" );
document.write( "0.08 x+ 0.09y = 2 020  (a)<BR>\n" );
document.write( "x+y= 24 000           (b)\r<BR>\n" );
document.write( "\n" );
document.write( "Multiply (a) by 100 to get rid of the decimals.\r<BR>\n" );
document.write( "\n" );
document.write( "8x+9y = 202 000         (c)\r<BR>\n" );
document.write( "\n" );
document.write( "Multiply (b) by -8 \r<BR>\n" );
document.write( "\n" );
document.write( "-8x-8y = - 192 000      (d)\r<BR>\n" );
document.write( "\n" );
document.write( "Now, we can add (c) and (d) to get\r<BR>\n" );
document.write( "\n" );
document.write( "y= 10 000\r<BR>\n" );
document.write( "\n" );
document.write( "Plug y= 10 000 into  x+y = 24 000<BR>\n" );
document.write( "                     x+ 10 000 = 24 000<BR>\n" );
document.write( "                     x         = 14 000\r<BR>\n" );
document.write( "\n" );
document.write( "To check:\r<BR>\n" );
document.write( "\n" );
document.write( "0.08 x + 0.09 y=<BR>\n" );
document.write( "0.08 (14 000) + 0.09 ( 10 000)=<BR>\n" );
document.write( "1120 + 900 = 2020 \r<BR>\n" );
document.write( "\n" );
document.write( "So, Ingrid invested $14 000 in the  8% annual CD and $ 10 000 in the 9% annual CD account to generate $ 2020 annual interest.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );