SOLUTION: A P550000 retirement pension is to be invested into two accounts; a money market fund that pays 8.5% and a certificate of deposit that pays 10.5%. How much should be invested at ea

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Question 1011709: A P550000 retirement pension is to be invested into two accounts; a money market fund that pays 8.5% and a certificate of deposit that pays 10.5%. How much should be invested at each rate in order to provide a yearly interest income of P53750?
Answer by josgarithmetic(39620) About Me  (Show Source):
You can put this solution on YOUR website!
x at 8.5%, yat 10.5%

system%288.5x%2B10.5y=53750%2A100%2Cx%2By=550000%29