SOLUTION: Bruce invested in stock paying 10.5% dividend. Maya invested $4000 more than Bruce in tax-free bonds payin 7.5% annual simple interest. If Maya's income from investment is $75 more
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Question 517192: Bruce invested in stock paying 10.5% dividend. Maya invested $4000 more than Bruce in tax-free bonds payin 7.5% annual simple interest. If Maya's income from investment is $75 more than Bruce's, find how much money each invested
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let 
represent the amount invested at 10.5% and then 
is them amount invested at 7.5%.
The amount of return on the 10.5% investment is then 
and the return on the 7.5% investment is )
Then the 10.5% investment earnings plus $75 is the same as the 7.5% investment.
)
Solve for , then calculate
John
My calculator said it, I believe it, that settles it
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