SOLUTION: Mr. Igne invests a part of P85,000 in a mortage which pays 6% interest; and the rest in bonds paying 5% interest. The annual income from the bonds is twice the income from the mort
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Question 1074094: Mr. Igne invests a part of P85,000 in a mortage which pays 6% interest; and the rest in bonds paying 5% interest. The annual income from the bonds is twice the income from the mortage. How much is invested in bonds? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! Let n be the amount invested in the mortgage. Then the amount invested in bonds would be 85000-n. So
2*.06n=.05(85000-n)
.12n=4250-.05n
.17n=4250
n=P25000 invested in the mortgage, and P60000 invested in bonds. ☺☺☺☺
