SOLUTION: A total of $21,000 is to be invested, some in bonds and some in certificates of deposit (CDs). If the amount invested in bonds is to exceed that in CDs by $3,000, how much w
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Question 1141606: A total of $21,000 is to be invested, some in bonds and some in certificates of deposit (CDs). If the amount invested in bonds is to exceed that in CDs by $3,000, how much will be invested in each type of investment?
- this is what I am given I need to find the amount invested is CDs and amount invested in bonds. my book says something about certification interest but I'm confused on how I should set up the problem bc I got 9000. do I set it up (b+3000)=21000? what do I do? plz help Answer by ikleyn(52915) (Show Source):
Let x = the amount invested in bonds and y = the amount invested in CDs.
x + y = 21000 (1)
x - y = 3000 (2)
Add the equations to get
2x = 21000 + 3000 = 24000 ====> x = 24000/2 = 12000.
Then from equation (1), y = 21000 - 12000 = 9000.
ANSWER. $12000 in bonds and $9000 in CDs.
