SOLUTION: Mr. Decker invested a certain amount of money in bonds yielding 3% a year and twice as much in bonds yielding 5% a year. If his total annual income from the two investments was $20

Question 840879: Mr. Decker invested a certain amount of money in bonds yielding 3% a year and twice as much in bonds yielding 5% a year. If his total annual income from the two investments was $208, how much did he invest in
each type of bond?
Please explain to me how to sole this!!

Answer by hamsanash1981@gmail.com(151) (Show Source): You can put this solution on YOUR website!
let the amount invested in bonds yielding 3% be x
then twice as much invested in bonds yielding 5% will be 2x.
the number of years is 1.
simple interest for 3% bond = (x*1*3)/100 => 3x/100
simple interest for 5% bond = (2x*1*5)/100 => 10X/100
Given that the total income of the investments was 208, then
3X/100 + 10X/100 = 208
3x+10x = 20800
13x = 20800
x=1600
therefore the money invested at 3% interest is $1,600 and money invested in 5% is 2*1600 = $3,200.

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