$41,000 will be invested in bonds and $35,000 will be invested in certificates of deposit (CDs)
Step-by-step explanation:
A total of $76,000 is to be invested
We need to find how much will be invested in each type of investment
Assume that the amount invested in bonds is x and the amount
invested in CDs is y
∵ x represents the amount invested in bonds
∵ y represents the amount invested in CDs
∵ The amount of investment is $76,000
∴ x + y = 76,000 ⇒ (1)
∵ The amount invested in Bonds exceeds the amount invested
in CDs by $6,000
∴ x = y + 6,000 ⇒ (2)
Substitute x in equation (1) by equation (2)
∵ (y + 6,000) + y = 76,000
- Add like terms
∴ 2y + 6,000 = 76,000
- Subtract 6,000 from both sides
∴ 2y = 70,000
- Divide both sides by 2
∴ y = 35,000
Substitute the value of y in equation (2) to find the value of x
∵ x = 35,000 + 6,000
∴ x = 41,000
$41,000 will be invested in bonds and $35,000 will be invested in certificates of deposit (CDs)
Learn more:
You can learn more about solving the system of equations in brainly.com/question/13168205
#LearnwithBrainly
