Question

A total of $91,000 is to be invested, some in bonds and some in certificates of deposit. If the amount invested in bonds is to exceed that in CDs by $7000, how much will be invested in each type of investment?

Answer 1

Therefore he will be invested in bonds and certificates of deposit $49000 and $41,000 respectively.

Step-by-step explanation:

Given that , a total of $91,000 is to be invested some in bonds and some in certificates of deposit.

Let he invests in certificates of deposit be = $ x

Then he invests in bond  = $ (91,000 - x)

According to problem

$(91,000-x)-x = 7000$

⇔$91,000-2x=7000$

⇔$2x = 91,000-7000$

⇔$2x = 84000$

⇔$x = 42000$

Therefore he will be invested in bonds and certificates of deposit $(91,000-42,000)= $49000 and $41,000 respectively.