Question: Please help me solve this math problem...Laura inherits $45000 and decides to invest part of it in education account for her daughter and the rest

Please help me solve this math problem...Laura inherits $45000 and decides to invest part of it in education account for her daughter and the rest in a 10-year CD. If the amount she puts in the education account is $12000 more than twice the amount she puts in the CD, how much money does Laura invest in each account? Start by defining the unknown quantities in terms of a variable; then write an equation based on the information given. Show all work.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Math 009 Midterm Exam Fall 2016 Professor: Dr. Kate Bauer Name________________________________ Instructions: The exam is worth 60 points. There are 12 problems, each worth 5 points. Your score on the...

Math 009 Midterm Exam Name________________________________ Instructions: The exam is worth 75 points. There are 15 problems, each worth 5 points. Your score on the exam will be converted to a...

14)Andrew's annual salary is $73,500.He has been promised a 2.5% merit raise in the year ahead.Find the amount of the raise and the new salary.Show all work. 15)Laura inherits $60,000 and decides to...

Laura inherits $36,000 and decides to invest part of it in an education account for her daughter and the rest in a 10-year CD.If the amount she puts in the education account is $12,000 less than...

Emma inherits $95,000 and decides to invest part of it in an education account for her daughter and the rest in a 5-year CD. If the amount she puts in the education account is $20,000 more than twice...

9)Mark borrows $27,400 to buy a new car.If the simple interest rate on the car loan is 6.15% and he pays off the loan in 8 years, how much interest does he pay? Write a complete answer including...

I need help with these few questions. Each screenshot has the page number along with the number for each Question i need answered. Please include the number of page and question number in the answers...

Robert (Bob) S. and Sally D. Grove are husband and wife and live at 4112 Larkspur Lane, Denton, TX 76201. Bob is a retired petroleum engineer, and Sally is a portrait artist. 1. When he retired at...

Please, note that, the problem itself does not have a very long solution, and the task condition is short, I just left a detailed description of how I see the solution to this problem. I ask you,...

need help please Which of the following statements best achieve positive emphasis on the 6 points reader? Choose all possible answers.* To process your order quickly, please send us your complete...

Simon acquires an interest in an oil property for $50,000. Intangible drilling costs (IDCs) in the initial year are $10,000. Cost depletion is $5,000 if the IDCs are expensed and $6,000 if the costs...

(a) Suppose H 0 : X = Y is to be tested against H 1 : X Y . The two sample sizes are 6 and 11. If s p = 15.3, what is the smallest value for | x y | that will result in H 0 being rejected at...

Feasibility study of a foreign project refers to: Question 1 8 options: Estimating the project's fixed costs. Formulating detailed cash - flow projections and applying relevant value creation metrics...

2023 1040 form 1.Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent...