Answer:
$10,000 invested in CD
$18,000 invested in money market
Step-by-step explanation:
Complete Question:
Jorge invested $28,000 into two accounts. The amount he put in his money market account was $2,000 less than twice what he put into a CD. How much did he invest in each account?
Let money put in CD be x
So
Money put in money market will be 2x - 2000
Alltogether, that is 28,000. Thus, we can write:
x + (2x-2000) = 28,000
Solving, we get:
x + (2x-2000) = 28,000
x + 2x - 2000 = 28,000
3x = 30,000
x = 30,000/3 = 10,000
$10,000 invested in CD
We know 2x - 2000 invested in money market, so:
2(10,000) - 2000 = $18,000 invested in money market
