SOLUTION: Savanah invested $13,000 in two different types of bonds. One bond earned 4% annual interest and the other earned 6% annual interest. After the first year, she earned $670 in inter

Question 1054247: Savanah invested $13,000 in two different types of bonds. One bond earned 4% annual interest and the other earned 6% annual interest. After the first year, she earned $670 in interest. How much money did she invest in each bond?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
Total invested: 13,000
At 4%: x
At 6%: 13,000-x
:
0.04x+0.06(13000-x) = 670
0.04x+780-0.06x = 670
-0.02x = -110 Divide both sides by -0.02 and remember -/- = +
x = 5,500 this is how much is invested at 4%
and 13,000-5,500 = 7,500 is invested at 6%
--------------------------------
Check:
5,500(0.04) = 220
7,500(0.06) = 450
Total .. .. .670 Correct
:
John

RELATED QUESTIONS
HUANG invested $9000 in mutual funds and bonds. the mutual fund earned 11% simnple... (answered by mathstutor458)

An investment adviser invested $14,000 in two accounts. One investment earned 6% annual... (answered by ikleyn)

Suppose that $18,000 is invested in two types of bonds for one year. part of the money... (answered by stanbon)

suppose that 18,000 is invested in two types of bonds for one year. Part of the money is... (answered by Theo)

Luis invested $6000 in two different accounts. One earned 4% and the other earned 7%. He... (answered by josmiceli,greenestamps)

Brandon invested $20 000. He invested part of the money in a term deposit paying 4%... (answered by ikleyn,greenestamps)

An investment adviser invested $14,000 in two accounts. One investment earned 5% annual... (answered by ikleyn)

A combined total of $67,000 is invested in two bonds that pay 3% and 7.5% simple... (answered by Solver92311)

Suppose an investor earned $2820 at the end of one year from a $32,000 investment in... (answered by nyc_function)