document.write( "Question 926636: Two certificates of deposits (CDs) pay interest at rates that differ by 4%. Money invested for 1 year in the first CD earns $50 interest. The same amount invested in the second CD earns $90. Find the two rates of interest. Thank you so much for whoever takes the time to help me. \n" ); document.write( "
Algebra.Com's Answer #562384 by josmiceli(19441)![]() ![]() You can put this solution on YOUR website! They don't say that it's compound interest, so \n" ); document.write( "it must be a simple interest problem \n" ); document.write( "Let \n" ); document.write( "-------------------------------- \n" ); document.write( "The 2nd CD earns $40 more, so it must be \n" ); document.write( "a higher rate, so it is: \n" ); document.write( " \n" ); document.write( "--------------------------------- \n" ); document.write( "Let \n" ); document.write( "------------------- \n" ); document.write( "Equation for1st rate: \n" ); document.write( "(1) \n" ); document.write( "Equation for 2nd rate: \n" ); document.write( "(2) \n" ); document.write( "------------------------- \n" ); document.write( "(1) \n" ); document.write( "and \n" ); document.write( "(2) \n" ); document.write( "------------------------- \n" ); document.write( "I can say: \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "and \n" ); document.write( " \n" ); document.write( "The rates are 5% and 9% \n" ); document.write( "----------------------- \n" ); document.write( "check: \n" ); document.write( "(1) \n" ); document.write( "(1) \n" ); document.write( "(1) \n" ); document.write( "and \n" ); document.write( "(2) \n" ); document.write( "(2) \n" ); document.write( "(2) \n" ); document.write( "(2) \n" ); document.write( "OK \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " |