SOLUTION: Rosie invested $2000 last year. She put some of the money in a 3.5% saving account and the rest in a 5% CD. At the end of the year she earned $84.25 of simple interest from her inv
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-> SOLUTION: Rosie invested $2000 last year. She put some of the money in a 3.5% saving account and the rest in a 5% CD. At the end of the year she earned $84.25 of simple interest from her inv
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Question 498791: Rosie invested $2000 last year. She put some of the money in a 3.5% saving account and the rest in a 5% CD. At the end of the year she earned $84.25 of simple interest from her investments. HOw much money did Rosie invest in each account? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 3.5%
Let = amount invested @ 5%
given:
(1)
(2)
---------------------
Multiply both sides of (2) by
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
(1)
(1)
$1,050 = amount invested @ 3.5%
$950 = amount invested @ 5%
check:
(2)
(2)
(2)
(2)
OK
