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whitneymann whitneymann
  • 16-01-2014
  • Mathematics
Answered

A combined total of $46,000 is invested in two bonds that pay 4% and

9.5% simple interest. The annual interest is $3,490.00. How much is

invested in each bond?

Verified Answer :

FileT FileT
  • 19-01-2014


Answer: 4%-16000 and 9.5%-30000

Why:

1) x+y=46000

x=46000-y

2) 4%x+9,5%y=3490;

4x + 9.5y=349000; so 4*(46000-y)+9.5y=349000;

5.5y=165000

y=30000

x=46000-30000=16000


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