SOLUTION: a mother invested 9000 dollars for the education of her kids. she invested one part of the money into a cd account which gain 4% and the rest of the money she invested in a saving
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Question 1025200: a mother invested 9000 dollars for the education of her kids. she invested one part of the money into a cd account which gain 4% and the rest of the money she invested in a saving bonus account that makes 7%. the total interest gained after a year was 540 dollars. how much money did she invest in each rate? Answer by fractalier(6550) (Show Source):
You can put this solution on YOUR website! Call what she invests at 4%, x. Thus she invested 9000-x at 7%. The setup then looks like this:
.04x + .07(9000-x) = 540
Now solve for x...
.04x + 630 - .07x = 540
-.03x = -90
x = $3000 at 4% and thus
9000-x = $6000 at 7%
