SOLUTION: An inheritance of $40,000 is invested in two municipal bonds which pay 6% and 7% simple annual interest. If the annual interest from both bonds is 2,550 dollars how much is investe
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Question 346887: An inheritance of $40,000 is invested in two municipal bonds which pay 6% and 7% simple annual interest. If the annual interest from both bonds is 2,550 dollars how much is invested in each bond?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
.06x+.07(40000-x)=2550
.06x+2800-.07x=2500
-.01x=-300
x=30000 at 6%
40000-x=10000 at 7%
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