SOLUTION: A woman has $27,000. Part of this money is invested for 1 year in a certificate of deposit paying 7% interest, and the remaining amount in a cash management fund paying 9%. The tot
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Question 909889: A woman has $27,000. Part of this money is invested for 1 year in a certificate of deposit paying 7% interest, and the remaining amount in a cash management fund paying 9%. The total interest on the two investments is $2,110. How much does she invest at each rate?
This was my answer x+.09(2,110)=27,000
x+189.90 = 27,000
-189.90 = -189.90
x= 26,810.10 Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! x amount at 9%
.09x + .07(27000-x) = 2100
x = 210/.02 = $10,500, amount at 9% and $16,500at 5%
