Please provide the working outs as well as the answer. Many thanks
1 answer:
You might be interested in
Answer:
The amount invested as certificates of deposit is $ 35,000 and The amount invested as bonds is $ 41,000
Step-by-step explanation:
Given as :
The total amount to be invested as bonds and certificates of deposit (CD) = $76,000
Let the amount invested as bonds = $ x + $6000
And The amount invested as CD = $ x
Now, According to question
The amount invested as CD + The amount invested as bonds = $ x + $ x + $6000
Or, $ x + $ x + $6000 = $76,000
Or, $ 2x = $76,000 - $6000
So, $ 2x = $70,000
∴ x = = $ 35,000
And $ x + $6000 = $ 35,000 + $6000 = $ 41,000
Hence The amount invested as certificates of deposit is $ 35,000 and The amount invested as bonds is $ 41,000 Answer