SOLUTION: Sue has $80,000 to invest in a savings account, which pays 7% and a certificate of deposit which pays 8.4%. Sue would like to receive $6,300 as interest income. How much should she

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Question 1080251: Sue has $80,000 to invest in a savings account, which pays 7% and a certificate of deposit which pays 8.4%. Sue would like to receive $6,300 as interest income. How much should she invest in each?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
1.A%2BB=80000
and
0.07A%2B0.084B=6300
2.70A%2B84B=6300000
From 1,
70A%2B70B=5600000
Subtract from 2 to eliminate A,
70A%2B84B-70A-70B=6300000-5600000
14B=700000
Solve for B, then use either equation to solve for A.