SOLUTION: 21. A securities broker advised a client to invest a total of $21,000 in bond paying 12% interest and in certificates of deposit paying 5 1/4% interest. The annual income form thes

Question 860275: 21. A securities broker advised a client to invest a total of $21,000 in bond paying 12% interest and in certificates of deposit paying 5 1/4% interest. The annual income form these investments was $2250. Find out how much he invested at each rate.
If you could solve this problem it would be greatly appreciated!
Found 2 solutions by richwmiller, josmiceli:
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
a+b=21000,
.12a+.0525b=2250
a=17000., b=4000.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 12%
Let = amount invested @ 5.25%
----------------------------------
(1)
(2)
----------------------------
(2)
(2)
--------------------------
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)

and
(1)
(1)
-------------------
$17,000 is invested @ 12% and
$4,000 is invested @ 5.25%
----------------------------
check:
(2)
(2)
(2)
(2)
OK
RELATED QUESTIONS
A securities broker advised a client to invest a total of $21,000 in bonds paying 12%... (answered by josmiceli)
A securities broker advised a client to invest a total of $21,000 in bonds paying 12%... (answered by robertb)
A retired couple have RM30,000 to invest in a fixed-income security. Their broker... (answered by Theo)
A retired couple has up to $30000 to invest in fixed-income securities. Their broker... (answered by Theo)
A client of the ABC investment company wanted to invest $20,000. She was advised to... (answered by Nate)
A person has 25000 total to invest in two municipal bonds. The interest rates are 5.2%... (answered by Boreal)
Brandon invested $20 000. He invested part of the money in a term deposit paying 4%... (answered by ikleyn,greenestamps)
Dina had $10,000 to invest. She invested part of it in a savings account that pays 4%... (answered by solver91311)
I dont get this problem please help me: Maria Cruz wants to invest part of her $8,000... (answered by checkley71)