SOLUTION: if $5,000 is invested in a bank that pays 5% interest, how much more must be invested in bonds at 9% to earn 7% on the total investment
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Question 901536: if $5,000 is invested in a bank that pays 5% interest, how much more must be invested in bonds at 9% to earn 7% on the total investment
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
if $5,000 is invested in a bank that pays 5% interest, how much more must be invested in bonds at 9% to earn 7% on the total investment
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let x=amt invested in bonds
5%*5000+9%x=7%(5000+x)
250+.09x=350+.07x
.02x=100
x=5000
how much more must be invested in bonds at 9%? $5000
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