SOLUTION: Investment. Thomas inherited $10,000 and invested it in two treasury bonds which pay 4% and 5% simple interest. The annual interest is $435. Find the amount invested at 5%?
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Question 474064: Investment. Thomas inherited $10,000 and invested it in two treasury bonds which pay 4% and 5% simple interest. The annual interest is $435. Find the amount invested at 5%? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Investment. Thomas inherited $10,000 and invested it in two treasury bonds which pay 4% and 5% simple interest. The annual interest is $435. Find the amount invested at 5%?
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Equations:
Quantity: x + y = 10000
Interest:4x + 5y = 43500
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Multiply Quantity by 4:
4x + 4y = 40000
4x + 5y = 43500
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Subtract and solve for "y":
y = $3500 (amt. invested at 5%)
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Cheers,
Stan H.
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