SOLUTION: Jacob invested $20,000.He put part of it in the bank at 5% interest and the other portion in bonds paying a 7% return. How much money did he place in each account if his annual inc

SOLUTION: Jacob invested $20,000.He put part of it in the bank at 5% interest and the other portion in bonds paying a 7% return. How much money did he place in each account if his annual inc

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Question 451449: Jacob invested $20,000.He put part of it in the bank at 5% interest and the other portion in bonds paying a 7% return. How much money did he place in each account if his annual income from these investments was $12,000.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Something is wrong with this problem.
If he invested all the money at 7%, he
still would only have $1400 income
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