SOLUTION: A securities broker advised a client to invest a total of $21,000 in bonds paying 12% interest and in certificates of deposit paying 5 1/4% interest. The annual income from these i

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Question 389332: A securities broker advised a client to invest a total of $21,000 in bonds paying 12% interest and in certificates of deposit paying 5 1/4% interest. The annual income from these investments was $2250. Find out how much was invested at each rate.
Answer by robertb(5830) About Me  (Show Source):
You can put this solution on YOUR website!
0.12x + 0.0525(21000 - x) = 2250;
0.12x + 1102.5 - 0.0525x = 2250;
0.0675x = 1147.5;
x = $17,000, the amount invested in the bonds,
21,000 - 17,000 = $4,000, the amount invested in COD.