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%

1 is c

2 is a

3 is a

step-by-step explanation:

step-by-step explanation:

what grade level is this? need to know so i can look in my old textbooks!