SOLUTION: A total of $20,000 is invested in two bonds that pay 8% and 9.5% simple intrest. The annual intrest is $1675. How much is interested in each bond?
Algebra.Com
Question 264132: A total of $20,000 is invested in two bonds that pay 8% and 9.5% simple intrest. The annual intrest is $1675. How much is interested in each bond?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.095X+.08(20,000-X)=1,675
.095X+1,600-.08X=1,675
.015X=1,675-1,600
.015X=75
X=75/.015
X=5,000 INVESTED @ 9.5%
20,000-5,000=15,000 INVESTED @ 8%
PROOF:
.095*5,000+.08*15,000=1,675
475+1,200=1,675
1,675=1,675
RELATED QUESTIONS
A combined total of $20,000 is invested in two bonds that pay 8% and 9.5% simple intrest. (answered by checkley71)
I need help working this problem.
1. A combined total of $20,000 is invested in two... (answered by checkley77)
A financial manager invested 20% of a clients moneyin bonds paying 9% annual simple... (answered by checkley71)
a total of $4,500 is invested in two funds that pay 4% and 5% simple intrest. the annunal (answered by checkley77)
A total of $18,000 is invested in two simple intrest accounts. On one of the accounts... (answered by checkley71)
A combined total of $22,000 is invested in two bonds that pay 3% and 9.5% simple... (answered by greenestamps)
A man invested $6,000, part of it at 5% simple intrest and the rest at 7% simple intrest. (answered by math problem solving)
A combined total of $67,000 is invested in two bonds that pay 3% and 7.5% simple... (answered by Solver92311)
a total of 10000 is invested in two funds paying 5% and 7% annual intrest. The combined... (answered by mananth)