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Question

You had $\$10,000$ to invest. You put $x$ dollars in a safe, government-insured certificate of deposit paying $5\%$ per year. You invested the remainder of the money in noninsured corporate bonds paying $12\%$ per year. Your total interest earned at the end of the year is given by the algebraic expression

$0.05x + 0.12(10,000 - x).$

**a.** Simplify the algebraic expression.
**b.** Use each form of the algebraic expression to determine your total interest earned at the end of the year if you invested $\$6000$ in the safe, government-insured certificate of deposit.

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 12a) First, we drop the parentheses by multiplying:

$\begin{aligned}0.12(10000-x)&=0.12⋅10000+0.12⋅(-x)\\&=1200-0.12x\end{aligned}$

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