document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=90065>Question 90065</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Could someone please help me in solving this problem, the answer I came up with was $25,759. <BR>\n" );
document.write( "A financial advisor suggests to a client that she invest part of her portfolio in municipal bonds earning 6.5% annual simple interest, and the remainder in corporate bonds earning 8.5% interest. If she has $30,000 in her portfolio, how much should she be putting in the corporate bonds if she is to earn $2,190 in interest each year.\r<BR>\n" );
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document.write( "I have even tried solvers.  <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 #65405 by </B><A HREF=/tutors/aboutme.mpl?userid=Earlsdon><B>Earlsdon(6294)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Earlsdon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=65405\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let x = the amount to be invested in corporate bonds at 8.5% interest.<BR>\n" );
document.write( "Then, ($30,000-x) would be invested in municipal bonds at 6.5% interest.<BR>\n" );
document.write( "The total interest earned on these two investments is $2,190.<BR>\n" );
document.write( "After changing the percentages to their equivalent decimal amounts (8.5% = 0.085 and 6.5% = 0.065), you can write the following equation:<BR>\n" );
document.write( "x(0.085)+($30,000-x)(0.065) = $2,190 Simplify and solve for x.<BR>\n" );
document.write( "0.085x+$1,950-0.065x = $2,190 Combine like-terms.<BR>\n" );
document.write( "0.02x+$1,950 = $2,190 Subtract $1,950 from both sides.<BR>\n" );
document.write( "0.02x = $240  Finally, divide both sides by 0.02<BR>\n" );
document.write( "x = $12,000 This is the amount the client should invest in corporate bonds.<BR>\n" );
document.write( "$30,000 - x = $30,000 - $12,000 = $18,000 is the amount the client would invest in municipal bonds.\r<BR>\n" );
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document.write( "Check:<BR>\n" );
document.write( "(0.085)($12,000) + (0.065)($18,000) = $1,020 + $1,170 = $2,190  The total interest. </SPAN>\n" );
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