SOLUTION: To provide for retirement income, Teresa Puelo purchases a $5000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 8% annual

Question 43686This question is from textbook Beginning Algebra with Applications
: To provide for retirement income, Teresa Puelo purchases a $5000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 8% annual simple interest if the total annual interest earned from the two investments is $615? This question is from textbook Beginning Algebra with Applications

Found 2 solutions by stanbon, checkley71:
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Teresa Puelo purchases a $5000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 8% annual simple interest if the total annual interest earned from the two investments is $615?
Let amount invested at 8% be "x".
EQUATION:
interest + interest = 615
0.075(5000)+0.08x=615
375+0.08x=615
0.08x=240
x=$3000 (amount invested at 8%)
Cheers,
Stan H.

Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.075*5000+.08X=615 OR 375+.08X=615 OR .08X=615-375 OR .08X=240 OR X=240/.08 OR
X=3000 THUS SHE INVESTED $3000 @ 8% INTEREST
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