SOLUTION: To provide for retirement income, Teresa Puelo purchases a $7,000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 9% annual
Algebra ->
Finance
-> SOLUTION: To provide for retirement income, Teresa Puelo purchases a $7,000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 9% annual
Log On
Question 934828: To provide for retirement income, Teresa Puelo purchases a $7,000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 9% annual simple interest if the total annual interest earned from the two investments is $885?
I AM SOOO STUCK ON THIS ONE>... can someone help me please? Answer by MathTherapy(10552) (Show Source):
You can put this solution on YOUR website! To provide for retirement income, Teresa Puelo purchases a $7,000 bond that earns 7.5% annual simple interest. How much money does Teresa have invested in bonds that earn 9% annual simple interest if the total annual interest earned from the two investments is $885?
I AM SOOO STUCK ON THIS ONE>... can someone help me please?
The problem has to be stated correctly for help to be given.
Only the amount for one investment (bonds) was given, yet interest was earned on 2 investments.
Don't you think you need to state all given info to receive help?
Since that's how it was stated, then amount invested at 9% = $
