Two certificates of deposit pay interest at rates that differ by 2%. money invested for one year in the first cd earns $300 interest. the same principal invested in the other cd earns $400. find the two rates of interest.

The two rates are 6% and 8%

Step-by-step explanation:

Call the two rates r1 and r2. Call p the principal. Write down the problem as an equation system:

which are 3 equations with 3 unknowns, so they can be solved. I first divide the two equations to get:

and use that in the third:

The two rates are 6% and 8%

hi,

3. 12.15, you are correct.

4.2.01, your first digit is correct,

hope this !