SOLUTION: An inheritance of $15,000 is invested in two accounts. Part is invested in stocks which pay 5% simple interest and the rest is invested in bonds which pay 4% simple interest. The a
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Question 1052274: An inheritance of $15,000 is invested in two accounts. Part is invested in stocks which pay 5% simple interest and the rest is invested in bonds which pay 4% simple interest. The annual interest is $690. Find the amount invested in each account. Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let n be the amount invested at 5%. Then:
.05n+.04(15000-n)=690
.01n+600=690
.01n=90
n=9000
$9000 was invested at 5%; $6000 was invested at 4%. ☺☺☺☺
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