document.write( "Question 1188040: Cara wants to invest $16,000 in certificates of deposit (CDs). For tax purposes, she wants her total interest per year to be $900. She wants to put $1000 more in a 2-year CD than in a 1-year CD and invest the rest in a 3-year CD. How much money should she invest in each type of CD?
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\n" ); document.write( "| Number of Years: 1 | 2 | 3 |
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\n" ); document.write( "| Rate of Interest: 3.0% | 5.0% | 6.0% |
\n" ); document.write( "|_________________________|______|______| \n" ); document.write( "

Algebra.Com's Answer #819101 by ikleyn(52781) $\"\"$ $\"About$

You can put this solution on YOUR website!
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document.write( "x         = invested at 3%;\r\n" );
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document.write( "(x+1000)  = invested at 5%;\r\n" );
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document.write( "the rest,  (16000-x-(x+1000)) = 15000-2x invested at 6%.\r\n" );
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document.write( "The total 1-year interest \r\n" );
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document.write( "    0.03x + 0.05(x+1000) + 0.06(15000-2x) = 900.\r\n" );
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document.write( "Simplify and find x\r\n" );
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document.write( "    0.03x + 0.05x + 50 + 900 - 0.12x = 900\r\n" );
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document.write( "    0.03x + 0.05x - 0.12x = 900 - 50 - 900\r\n" );
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document.write( "           -0.04x         = -50\r\n" );
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document.write( "              x           =  = 1250  dollars.\r\n" );
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document.write( "ANSWER.  $1250 invested  at 3%;  $2250 invested at 5%;  and the rest, 16000-1250-2250 = 12500 invested at 6%.\r\n" );
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document.write( "CHECK.  0.03*1250 + 0.05*2250 + 0.06*12500 = 900 dollars, the total annual interest.  ! Precisely correct !\r\n" );
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