SOLUTION: Matt inherits $90,000 and decides to invest part of it in an education account for his daughter and the rest in a 10-year CD. If the amount he puts in the education account is $12
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Question 1139025: Matt inherits $90,000 and decides to invest part of it in an education account for his daughter and the rest in a 10-year CD. If the amount he puts in the education account is $12,000 less than twice the amount he puts in the CD, how much money does Matt invest in each account? Answer by ikleyn(52803) (Show Source):
From the condition, you have these two equations
X + Y = 90000 (1)
2X - Y = 12000 (2)
(where X = CD, Y = education).
Add equations (1) and (2).
3X = 90000 + 12000 = 102000 =====> X = = 34000 dollars in CD ANSWER
The rest, 90000 - 34000 = 56000 in education. ANSWERCNECK. 2*34000 - 56000 = 68000 - 56000 = 12000. ! Correct !