SOLUTION: Could someone please help me soldve this question, I am really trying to assistanace my daughter in her Algebra. Thanks.
Anthony invested part of his $12,000 inheritance in a b
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Anthony invested part of his $12,000 inheritance in a b
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Question 214074: Could someone please help me soldve this question, I am really trying to assistanace my daughter in her Algebra. Thanks.
Anthony invested part of his $12,000 inheritance in a bond paying 9% and the other part in savings account paying 6%. If his interest from the two investments was $930 in the first year, how much did he have invested at each rate? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = dollars invested in bond
Then will equal dollars invested in savings
given:
Interest earned from bond =
Interest earned from savings =
-----------------------------------
Solve the equation for
Subtract from both sides
and
Anthony invested $7,000 in the bond and $5,000 in savings
check the answer:
OK
