Question

A total of $51000 is to be invested, some in bonds and some in certificates of deposits(CDs). If the amount invested in bonds is to exceed that in CDs by 3000 how much will be invested in each type of investment?

Answer 1

Answer:$27000 would be invested in bonds. $24000 would be invested in certificates of deposits(CDs).

Explanation:

Let x represent the amount of money that was invested in bonds.

Let y represent the amount of money that was invested in certificates of deposits(CDs).

A total of $51000 is to be invested, some in bonds and some in certificates of deposits(CDs).it means that

x + y = 51000 - - - - - - - - - - 1

If the amount invested in bonds is to exceed that in CDs by 3000, it means that

x = y + 3000

Substituting x = y + 3000 into equation 1, it becomes

y + 3000 + y = 51000

2y + 3000 = 51000

2y = 51000 - 3000 = 48000

y = 48000/2 = $24000

Substituting y = 24000 into x = y + 3000, it becomes

x = 24000 + 3000 = $27000