I tried everything with this problem but I can't seem to get it right... here's the question:


Mr. Smith invested $25,500 in two certificates of deposit (CDs). One CD was paying 6% annual interest and the other 4.5%. The annual income on the 4.5% CD was $97.50 more than the annual income on the 6% CD. How much did he invest in each CD? (show all work)

Thanks all:)

It's not really geometry, but more simultaneous equations.

Let the sum deposited in the first account at 6% be x.
The sum deposited in the second account be y.

Then, the initial total sum would be:
x + y = 25,500

The interest from the first account would be given by:
0.06x

The interest from the second account would be given by:
0.045y

The annual income from y is 97.50 more than that from x...
0.045y = 0.06x + 97.5

That means that you have to add 97.5 to x so that both interests become equal.

You now have two equations with two unknowns, can you figure it out? :)

Show us what you tried and the answers you got and we can show you how to fix it.