# SOLUTION: Little Johnny invested \$10,000. He put part of it in a bank at 5 percent interest. He put the remainder in bonds which pay a 9 percent annual return. How much did he invest in e

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Little Johnny invested \$10,000. He put part of it in a bank at 5 percent interest. He put the remainder in bonds which pay a 9 percent annual return. How much did he invest in e      Log On

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 Click here to see ALL problems on Money Word Problems Question 239280: Little Johnny invested \$10,000. He put part of it in a bank at 5 percent interest. He put the remainder in bonds which pay a 9 percent annual return. How much did he invest in each method (savings bank and bond) if his annual income from the two investments was \$660?Answer by stanbon(60771)   (Show Source): You can put this solution on YOUR website!Little Johnny invested \$10,000. He put part of it in a bank at 5 percent interest. He put the remainder in bonds which pay a 9 percent annual return. How much did he invest in each method (savings bank and bond) if his annual income from the two investments was \$660? ------------------------------------------------- Equation: Quantity Eq::: x + y = 10000 Interest Eq::0.05x+0.09y = 660 ------------------------ Multiply thru the 1st equation by 5: Multiply thru the 2nd equation by 100: 5x + 5y = 50000 5x + 9y = 66000 -------------------- Subtract the 1st from the 2nd and solve for "y": 4y = 16000 y = \$4000 (amount invested at 5%) --- Since x+y = 10000, x = \$6000 (amount invested at 9%) ========================================================== Cheers, Stan H.