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 1032856: 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? Answer by mananth(16946) (Show Source):
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%.
investment at 7% -----------x
Investment at 5% -----------3x
annual income from the stocks and bonds is $158.40,
3x*5% +7%x=158.40
multiply by 100
15x+7x=15840
21x=15840
x= 720
$2160 invested in bonds
