document.write( "Question 1191391: Translate to a system of equations and solve.
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document.write( "Mark wants to invest $10,000 to pay for his daughter's wedding next year. He will invest some of the money in a short term CD that pays 12% interest and the rest in a money market savings account that pays 5% interest. How much should he invest at each rate if he wants to earn $1,088 in interest in one year?
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document.write( "short term CD___$
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document.write( "money market___$ \n" );
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Algebra.Com's Answer #823233 by Boreal(15235)![]() ![]() You can put this solution on YOUR website! Short term=x \n" ); document.write( "Long term=y \n" ); document.write( ".12x+.05y=1088 \n" ); document.write( "x+y=10000 \n" ); document.write( "multiply top by -20 to eliminate y \n" ); document.write( "-2.4x-7=-21760 \n" ); document.write( "so \n" ); document.write( "-1.4x=-11760 \n" ); document.write( "x=$8400 @ 12%=($1008) \n" ); document.write( "y=$1600 @5%=$80 \n" ); document.write( " |