SOLUTION: Formulate but do not solve the problem. Kelly Fisher invested a total of $20,000 in two municipal bonds that have yields of 7% and 10% interest per year, respectively. If the in

Question 973804: Formulate but do not solve the problem.
Kelly Fisher invested a total of $20,000 in two municipal bonds that have yields of 7% and 10% interest per year, respectively. If the interest Kelly receives from the bonds in a year is $1640, how much did she invest in each bond? (Let x and y denote the amount, in dollars, invested at 7% and 10%, respectively.
=20,000
=1640

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Formulate but do not solve the problem.
Kelly Fisher invested a total of $20,000 in two municipal bonds that have yields of 7% and 10% interest per year, respectively. If the interest Kelly receives from the bonds in a year is $1640, how much did she invest in each bond? (Let x and y denote the amount, in dollars, invested at 7% and 10%, respectively.
-------------------------
Using two variables::
Quantity equation:: x + y = 20,000 dollars
Interest equation::7x + 10y = 164000 dollars
-------------------------------
OR, just using one variable::
7x + 10(20,000-x) = 164000
---------------------------
Cheers,
Stan H.

---------------
=20,000
=1640
RELATED QUESTIONS
good afternoon, please help me solve this problem: Kelly Fisher has a total of $26,000 (answered by scott8148)

John received an inheritance of $12,000$12,000 that he divided into three parts and... (answered by Boreal)

A total of $58,000 is invested in two municipal bonds that pay 4.25% and 7.25% simple... (answered by mananth)

Formulate but do not solve the problem. The management of a private investment club... (answered by Glaviolette,MathTherapy)

please help me solve this : Moira inherited $15,000 and invested part of it in a money... (answered by FrankM)

I have this question I am extremely confused, I know I need to use differential equations (answered by Edwin McCravy)

Problem on page 23 number 110 Diversification - Helen has 1/5 of her portfolio in U.S. (answered by 24HoursTutor.com)

Among a group of 2,500 people, 35 percent invest in Municipal Bonds, 18 percent invest... (answered by Theo,ikleyn)

This problem is impossible! My pivot elements are not working out correctly. I have it... (answered by richwmiller)