Question

Jorge invested $28,000 into two accounts. The amount he put in his money market account was $2,000 less than twice what he put into a CD.

Answer 1

Answer:

$10,000 invested in CD

$18,000 invested in money market

Step-by-step explanation:

Complete Question:

Jorge invested $28,000 into two accounts. The amount he put in his money market account was $2,000 less than twice what he put into a CD. How much did he invest in each account?

Let money put in CD be x

So

Money put in money market will be  2x - 2000

Alltogether, that is 28,000. Thus, we can write:

x + (2x-2000) = 28,000

Solving, we get:

x + (2x-2000) = 28,000

x + 2x - 2000 = 28,000

3x = 30,000

x = 30,000/3 = 10,000

$10,000 invested in CD

We know 2x - 2000 invested in money market, so:

2(10,000) - 2000 = $18,000 invested in money market