document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1058542>Question 1058542</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A person wishes to deposit a total of $10.000 in two accounts. The savings account pays yearly interest of 4% and fixed certificates of deposit pay a yearly interest rate of 7%. How much should the person deposit in each account so that he gets a total of $502 interest at the end of the year? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #673597 by </B><A HREF=/tutors/aboutme.mpl?userid=solve_for_x><B>solve_for_x(190)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solve_for_x><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=673597\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let x represent the amount deposited in the savings account, and let y represent the <BR>\n" );
document.write( "amount deposited in the CD.\r<BR>\n" );
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document.write( "Since the total investment is $10,000, you can write:\r<BR>\n" );
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document.write( "x + y = 10000\r<BR>\n" );
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document.write( "The total interest earned is:\r<BR>\n" );
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document.write( "0.04x + 0.07y = 502\r<BR>\n" );
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document.write( "Solving the first equation for y gives:\r<BR>\n" );
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document.write( "y = 10000 - x\r<BR>\n" );
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document.write( "Substituting 10000 - x in place of y in the second equation gives:\r<BR>\n" );
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document.write( "0.04x + 0.07(10000 - x) = 502\r<BR>\n" );
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document.write( "0.04x  + 700 - 0.07x = 502\r<BR>\n" );
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document.write( "-0.03x + 700 = 502\r<BR>\n" );
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document.write( "-0.03x = 502 - 700\r<BR>\n" );
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document.write( "-0.03x = -198\r<BR>\n" );
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document.write( "x = -198 / -0.03\r<BR>\n" );
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document.write( "x = 6600\r<BR>\n" );
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document.write( "Then y = 10000 - 6600 = 3400\r<BR>\n" );
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document.write( "Solution: $6600 should be invested in the savings account, and $3400 should be<BR>\n" );
document.write( "invested in the certificates of deposit.\r<BR>\n" );
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document.write( "Check:\r<BR>\n" );
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document.write( "x + y = 6600 + 3400 = 10000\r<BR>\n" );
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document.write( "0.04x + 0.07y = 0.04(6600) + 0.07(3400) = 264 + 238 = 502\r<BR>\n" );
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document.write( " </SPAN>\n" );
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