Algebra to solve, include variables and equation

Question

After winning $60000 in the lottery, a retired Teacher gave $10,000 of it to her grandchildren and invested part of the remainder in a growth fund that earned 4.4% annually and the rest in certificates of deposit paying 5.8% annually. The interest that she received in those two investments total $2732 at the end of the first year. Find the amount of each investment

Answer 1

winning $60000 in the lottery,

after giving grandsons money remained = $60000 - $10,000 = 50000

 

invested in growth fond = x

invested in certificate of deposites = 50000 -x

 

interest on growth fund is 4.4 % = 0.044x

 

interest on certificate of deposites is 5.8% =0.058(50000-x)

 

0.058(50000-x) + 0.044x = 2732

 

2900 -0.058x +0.044x =2732

 

168 = 0.014x

 

x= 12000

 

invested in growth fond = x = $12000
invested in certificate of deposites = 50000 -x =$38000