Question 157607: The Rileys have $27,000 to invest. they intend to invest part of the money in certificates of deposit at 8.5% and the remainder in a savings account at 5%. If they wish to receive the same income from each investment, how much should they invest in each?
Found 2 solutions by checkley77, josmiceli:
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! .085X=.05(27,000-X)
.085X=1,350-.05X
.085X+.05X=1,350
.135X=1,350
X=1,350/.135
X=10,000 INVESTED @ 8.5%
27,000-10,000=17,000 INVESTED @ 5%
PROOF:
.085*10,000=.05*17,000
850=850 AMOUNT OF INTEREST FROM EACH ACCOUNT.
Answer by josmiceli(19441)  (Show Source):
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