SOLUTION: Mary invest $5600 into 2 bonds, one at a rate of 2% the other at a rate of 5%. After a year the earning from the first bond is the same as the second bond, how much money did she i

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Question 1118755: Mary invest $5600 into 2 bonds, one at a rate of 2% the other at a rate of 5%. After a year the earning from the first bond is the same as the second bond, how much money did she invested in each bond.


Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


Let represent the amount invested at 5%. Then the amount invested at must be .

The amount earned on dollars for a year invested at 5% is:



The amount earned on dollars for a year invested at 2% is:



We are given that these two amounts are equal, so:



Solve for , then calculate


John

My calculator said it, I believe it, that settles it