URGENT 23-28 with work
1 answer:
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Answer:
The amount invested in bonds = 35,000
The amount invested in CD = 15,000.
Step-by-step explanation:
The total amount that Daniela invested is $50,000, this means if we call the amount invested in bonds , and the amount invested in CD
, then we have:
this says the total amount Daniela invested is $50,000.
And since the amount invested in bonds is $5,000 more than twice the amount Daniela put into the CD, we have:
.
Thus, we have two equations and two unknowns and
:
(1).
(2). ,
and we solve this system by substituting from the second equation into the first:
or, the amount invested in CD is $15,000.
With the value of in hand, we now solve for
from equation(2):
or, the amount invested in bonds is $35,000.