SOLUTION: Timmy has three times as much money invested at 5% bonds as he has in stocks paying 7%. If his annual income from the stocks and bonds is $158.40, how much has he invested in bonds
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Question 1031393: Timmy has three times as much money invested at 5% bonds as he has in stocks paying 7%. If his annual income from the stocks and bonds is $158.40, how much has he invested in bonds?
USE SYSTEMS OF EQUATIONS TO SOLVE !!! Found 2 solutions by josmiceli, MathTherapy:Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested in stocks at 7% = amount invested in bonds at 5%
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and
$720 was invested in stocks
$2,160 was invested in bonds
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check:
OK
You can put this solution on YOUR website!
Timmy has three times as much money invested at 5% bonds as he has in stocks paying 7%. If his annual income from the stocks and bonds is $158.40, how much has he invested in bonds?
Let amount invested in bonds and stocks, be B, and S, respectively
Then: B = 3S______ -------eq (i)
Also, .05B + .07S = 158.4 ---- eq (ii) ------- Substituting for S in eq (ii)
.15B + .07B = 475.2 ----------- Multiplying by LCD, 3
.22B = 475.2
B, or amount invested in bonds = , or
