SOLUTION: investment problem.... richard inherited 15,000 dollars and invester it in two municial bonds. which pay 7% and 9% simple interest. the annual interest is 1,230.00 find the amount

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Question 144992: investment problem.... richard inherited 15,000 dollars and invester it in two municial bonds. which pay 7% and 9% simple interest. the annual interest is 1,230.00 find the amount invested at each rate.
amount invested at 7% _______
amount invested at 9% _______
Answer by vleith(2983) About Me  (Show Source):
You can put this solution on YOUR website!
Let x be the amount invested at 7%. Then (15000-x) is the amount at 9%
0.07x+%2B+0.09%2815000-x%29+=+1230
-0.02x+%2B+1350+=+1230+
-0.02+x+=+-120+
x+=+6000
9000 at 9%
6000 at 7%