Let x = amount invested in 2% CD and y = amount invested in 3% CD
x + y = 60000
0.02x + 0.03y = 1600
SOLVE THE 1st EQUATION FOR x AND SUBSTITUTE RESULT IN 2nd
0.02(60000 - y) + 0.03y = 1600
1200 - 0.02y + 0.03y = 1600
0.03y = 400
y = 13333.34
x = 46666.66
Answer: x=5
Step-by-step explanation:
10 1/2 bags of seed. 3×3 1/2
