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sasho [114]
3 years ago
13

A total of $91,000 is to be​ invested, some in bonds and some in certificates of deposit​ (CDs). If the amount invested in bonds

is to exceed that in CDs by $8 ,000 comma how much will be invested in each type of​ investment?
Business
1 answer:
Lana71 [14]3 years ago
5 0

Answer:

CD:        41,500

Bonds:  49,500

Explanation:

Base on the information we are given, we can create an equation system:

The total investment in bonds and certificates of deposit totals 91,000

and the amount investment on bonds are 8,000 higher than Certificates of deposit

\left \{ {{CD + Bonds = 91,000} \atop {Bonds = CD + 8,000}} \right.

<u>We replace the bonds of the second equation on the first equation:</u>

CD + (CD + 8,000) = 91,000

<u>And solve for certificates of deposits</u>

2CD = 91,000 - 8,000

CD = 83,000/2 = 41,500

<u>Now, we replace the CD on the second equation</u>

Bonds = CD + 8,000

Bonds = 41,500 + 8,000 = 49,500

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