SOLUTION: A combined total of $22,000 is invested in two bonds that pay 3% and 9.5% simple interest. The annual interest is $1,765.00. How much is invested in each bond?

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Question 1184408: A combined total of $22,000 is invested in two bonds that pay 3% and 9.5% simple interest. The annual interest is $1,765.00. How much is invested in each bond?
Answer by greenestamps(13200) About Me  (Show Source):
You can put this solution on YOUR website!


x = amount at 9.5%
22000-x = amount at 3%

The total interest was $1765:

.095%28x%29%2B.03%2822000-x%29=1765
.095x%2B660-.03x=1765
.065x=1105
x=1105%2F.065+=+17000

ANSWER: $17000 at 9.5%; the other $5000 at 3%

CHECK: .095(17000)+.03(5000)=1615+150=1765