SOLUTION: An artist invest her money in two ways,Some goes into a tax free bond paying 6% and $6000 more than three times as much goes into mutual funds paying 5%, the total annual interest
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Question 1100370: An artist invest her money in two ways,Some goes into a tax free bond paying 6% and $6000 more than three times as much goes into mutual funds paying 5%, the total annual interest income from the investments is $825.00, how much does she invest at each rate ?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
.06x+.05*(3x+6000)=825
.06x+.05*(3x+6000)=825
6x+5*(3x+6000)=82500
6x+15x+30000=82500
21x=52500
x=52500/21
x=2500 at 6%
y=3x+6000
y=3*2500+6000
y=7500+6000
y=13500 at 5%
check
.06x+.05*(3x+6000)=825
.06*2500+.05*13500=825
150+675=825
825=825
ok
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