College Algebra (10th Edition)

Published by Pearson
ISBN 10: 0321979478
ISBN 13: 978-0-32197-947-6

Chapter 1 - Section 1.1 - Linear Equations - 1.1 Assess Your Understanding: 83

Answer

Amount invested in CDS = 8,500 Dollars Amount invested in Bonds = 11,500 Dollars

Work Step by Step

Let's assume that the amount invested in CDs = x. As the amount invested in bonds is to exceed that in CDs by 3000 dollars, we can assume - Amount invested in bonds = x + 3000. Amount invested in bonds + Amount invested in CDs = $20,000. (x + 3000) + x = 20,000 2x + 3000 = 20,000 2x = 17,000 x = 8,500 Thus, Amount invested in CDS = 8,500 Dollars. Amount invested in Bonds = ( 8,500 + 3000) = 11,500 Dollars.
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