SOLUTION: Suppose you invest $3,600 in stocks and bonds paying 7% and 3%, respectively. The interest from both investments after one year is $156. For the following problems, use x for the a

Question 902691: Suppose you invest $3,600 in stocks and bonds paying 7% and 3%, respectively. The interest from both investments after one year is $156. For the following problems, use x for the amount invested in stocks and y for the amount invested in bonds.
a) Write a mathematical expression for the total amount of money invested.
Answer:
b) Write a mathematical expression for the total interest earned.
Answer:
c) How much money was invested in bonds?
Answer:
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
We know the total amount of money invested. $3600
A) x+y=3600,
We know that the total interest for the year for the two accounts is $156
B)0.07*x+0.03*y=156
x=3600-y
We substitute for x
0.07*(3600-y)+0.03*y=156
We multiply out
252-0.07y+0.03*y=156
We combine like terms.
-0.04*y=-96
Isolate y
C) y=2400 at 3% bonds
x=3600-y
Calculate x
x=1200 at 7% stocks
We check
0.07*1200+0.03*2400=156
84+72=156
156=156
Since this statement is TRUE and neither amount is negative then it is ok

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