SOLUTION: How much money is invested in bonds and how much money is invested in certificates if the municipal bonds yeilding 6% annually and certificates of deposit yeilding 8% annually? The

Question 777321: How much money is invested in bonds and how much money is invested in certificates if the municipal bonds yeilding 6% annually and certificates of deposit yeilding 8% annually? The amount of investments is $24,636 and the annual income is 1769.20.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How much money is invested in bonds and how much money is invested in certificates if the municipal bonds yeilding 6% annually and certificates of deposit yeilding 8% annually? The amount of investments is $24,636 and the annual income is 1769.20.
---------------
Quantity Deposited:: s + e = 24,636
Interest Earned::: 6s +8e = 176920
-------------------------
Modify for elimination::
3s + 3e = 3*24636
3s + 4e = 88460
---------------------
Subtract and solve for "e":
e = $14,552 (amt. invested at 8%)
---
s = 24636-14552 = $10,084 (amt. invested at 6%)
=================
Cheers,
Stan H.
=================
RELATED QUESTIONS
Jorge purchased municipal bonds which yield 6% annually and certificates of deposit which (answered by stanbon)

Arlene purchased municipal bonds which yield 6% annually and certificates of deposit... (answered by greenestamps)

Susan purchased municipal bonds which yield 7% annually and certificates of deposit which (answered by checkley71)

Susan purchased some municipal bonds yielding 9% annually and some certificates of... (answered by stanbon)

Arlene purchased some municipal bonds yielding 7% annually and some certificates of... (answered by stanbon)

Ernest receives $555 per year from his $7000 investment in municipal and corporate... (answered by checkley79)

An inheritance of $40,000 is invested in two municipal bonds which pay 6% and 7% simple... (answered by rfer)

A total of $20,000 is to be invested in bonds and some in certificates of deposit. If the (answered by mananth)

Martin purchased minimal bonds which yield 8% annually and certificates of deposit which... (answered by stanbon)