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Question 1025226: Verna invested part of a $10,000 inheritance in stocks paying 6.5% simple interest annually. She invested the rest in bonds paying 4.25% simple interest annually. If Verona will receive 582.50 in interest after one year, how much did she invest in stocks? How muqch did she invest in bonds?
I don't know how to find equation. Please help! Thanks!
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Verna invested part of a $10,000 inheritance in stocks paying 6.5% simple interest annually. She invested the rest in bonds paying 4.25% simple interest annually. If Verona will receive 582.50 in interest after one year, how much did she invest in stocks? How much did she invest in bonds?
I don't know how to find equation. Please help! Thanks!
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Quantity Eq:: s + f = 10,000
Interest Eq::6.5s + 4.25f = 58250
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Modify::
650s + 650f = 650*10,000
650s + 425f = 5825000
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Subtract and solve for "f"::
225f = 675000
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f = $3000 (amt. invested at 4.25%
s = $7000 (amt. invested at 6.5%
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Cheers,
Stan H.
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