document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=443554>Question 443554</A>: <I><SPAN STYLE=\"word-break: break-all;\"> a university alumni association invested part of 20,000 in preferred stock that earns 8% annual simple interest, and the remainder in a municipal bond that earns 7% annual simple interest. The amount of interest earned each year is 1520.  How much was invested in each account?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #307542 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=307542\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .08x+.07(20000-x)=1520<BR>\n" );
document.write( ".08x+1400-.07x=1520<BR>\n" );
document.write( ".01x=120<BR>\n" );
document.write( "x=12000<BR>\n" );
document.write( "20000-x=8000<BR>\n" );
document.write( "$12000 was invested in preferred stock, $8000 in a municipal bond.. </SPAN>\n" );
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