SOLUTION: A combined total of $67,000 is invested in two bonds that pay 3% and 7.5% simple interest. The annual interest is $4,080.00. How much is invested in each bond?
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Question 1171073: A combined total of $67,000 is invested in two bonds that pay 3% and 7.5% simple interest. The annual interest is $4,080.00. How much is invested in each bond?
Answer by Solver92311(821) (Show Source): You can put this solution on YOUR website!
If a total of 
monetary units is invested in two different accounts paying 
percent and 
simple interest respectively and 
is the amount invested in one of the accounts, the total amount of interest earned in a year in the two accounts is given by:
)
Set this equal to the total amount of interest earned, solve for and then calculate 
John
My calculator said it, I believe it, that settles it
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