Question 255130: A total of $15,000 is invested in two corporate bonds that pay 5% and 7% simple annual interest. The investor wants to earn $880 in interest per year from bonds. How much should be invested in each bond? Answer by checkley77(12569) (Show Source):
You can put this solution on YOUR website! .07X+.05(15,000-X)=880
X-6,500 IS INVESTED @ 7%.
15,000-6,500=8,500 IS INVESTED @ 5%