SOLUTION: A total of $15,000 is invested in two corporate bonds that pay 6.5% and 8% simple interest. the invester wants an annuel interest income of $1050 from the investments. how much sho
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Question 1070144: A total of $15,000 is invested in two corporate bonds that pay 6.5% and 8% simple interest. the invester wants an annuel interest income of $1050 from the investments. how much should she invest in each type of bond? show work
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
amount invested at 6.5%=x
amount invested at 8% is 15000-x
.065x+.08(15000-x)=1050
.065x+1200-.08x=1050
-0.015x=-150; divide both sides by -0.015
x=$10000@6.5%=$650
15000-x=$5000@8%=$400
add to $1050.
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