SOLUTION: Mr. Ferrier invested $26,000. Some was invested in bonds that made a 5% profit, and the rest was put into stocks that made an 8% profit. How much did Mr. Ferrier invest in bonds if

Question 1139719: Mr. Ferrier invested $26,000. Some was invested in bonds that made a 5% profit, and the rest was put into stocks that made an 8% profit. How much did Mr. Ferrier invest in bonds if his total profit on both types of investments was $1,420?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.


Let x = amount at 8%, in dollars.

Then the amount at 5% is the rest (26000-x) dollars.



The interest from the 8% amount is 0.08*x  dollars.

The interest from the 5%   amount is 0.05*(26000-x)   dollars.



Your equation is


    interest + interest      = total interest,   or


    0.08*x  + 0.05*(26000-x) = 1420   dollars.


From the equation, express x and calculate the answer


    x =  = 4000.


Answer.  The amount at 8% is $4000;  the rest  $26000-$4000 = $22000 is the amount at 5%.


Check.   0.05*22000 + 0.08*4000 = 1420 dollars.   ! Correct !

-----------------

It is a typical and standard problem on investment.

To see many other similar solved problems on investment, look into the lesson
- Using systems of equations to solve problems on investment
in this site.

You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
different methods of solution to the equations (Substitution, Elimination).

Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".

Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

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