Problema Solution
roopa patel won a prize for her work. she invested part of the money in a certificate of deposit at 4% and $3000 more than that amount in a bond paying 6%. her annual intrest income was $780. how much did roopa invest at each rate?
Answer provided by our tutors
Let x be the amount invested on the 4% interest
x+3000 be the amount invested on the 6% interest
.04x + .06(x+3000) = 780
.04x + .06x + .06(3000) = 780
.1x + 180 = 780
.1X = 600
x = 600/.1
x = 6000
and 9000 for the other investment