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19 March, 23:59

Alyssa received 30,000 from an inheritance and invests in a certificate of deposit paying 5% annual interest and the rest in apple inc. offering an annual return of 11%. if the annual income from her income from her investment is 2220.00, how much did alyssa invest in each?

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  1. 20 March, 00:01
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    Since her annual return is 2220.00 as well as 11% of her investment in Apple, we can divide it by 11 and multiply that by 100 to get her investment in Apple, which would be 20181+81/99. Since she only invested in 2 things, her investment in her certificate of deposit is 30,000 - (20181+81/99) = 9818+18/99
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