# SOLUTION: Ernest receives \$555 per year from his \$7000 investment in municipal and corporate bonds. His municipal bonds pay 6% and his corporate bond pays 9% How much money is invested i

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Ernest receives \$555 per year from his \$7000 investment in municipal and corporate bonds. His municipal bonds pay 6% and his corporate bond pays 9% How much money is invested i      Log On

 Ad: Over 600 Algebra Word Problems at edhelper.com Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations! Ad: Mathway solves algebra homework problems with step-by-step help!

 Word Problems: Money, Business and Interest Solvers Lessons Answers archive Quiz In Depth

 Click here to see ALL problems on Money Word Problems Question 742512: Ernest receives \$555 per year from his \$7000 investment in municipal and corporate bonds. His municipal bonds pay 6% and his corporate bond pays 9% How much money is invested in each type of bond?Answer by checkley79(3056)   (Show Source): You can put this solution on YOUR website!.09X+.06(7000-X)=555 .09X+420-.06X=555 .03X=555-420 .03X=135 X=135/.03 X=\$4,500 IS INVESTED @ 9%. 7000-4500=\$2,500 IS INVESTED @6%. PROOF: .09*4500+.06*2500=555 405+150=555 555=555