SOLUTION: Savanah invested $13,000 in two different types of bonds. One bond earned 4% annual interest and the other earned 6% annual interest. After the first year, she earned $670 in inter

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Question 1054247: Savanah invested $13,000 in two different types of bonds. One bond earned 4% annual interest and the other earned 6% annual interest. After the first year, she earned $670 in interest. How much money did she invest in each bond?
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
Total invested: 13,000
At 4%: x
At 6%: 13,000-x
:
0.04x+0.06(13000-x) = 670
0.04x+780-0.06x = 670
-0.02x = -110 Divide both sides by -0.02 and remember -/- = +
x = 5,500 this is how much is invested at 4%
and 13,000-5,500 = 7,500 is invested at 6%
--------------------------------
Check:
5,500(0.04) = 220
7,500(0.06) = 450
Total .. .. .670 Correct
:
John