SOLUTION: I need help with this problem. A total of $32,000 is invested in 2 municipal bonds that pay 5.75% and 6.25% simple interest. The investor wants an annual interest income of $1900

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: I need help with this problem. A total of $32,000 is invested in 2 municipal bonds that pay 5.75% and 6.25% simple interest. The investor wants an annual interest income of $1900       Log On


   

Question 590628: I need help with this problem.
A total of $32,000 is invested in 2 municipal bonds that pay 5.75% and 6.25% simple interest. The investor wants an annual interest income of $1900 from the investments. What ammount should be invested in the 5.75% bond?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +a+ = amount invested @ 5.75%
Let +b+ = amount invested @ 6.25%
given:
(1) +a+%2B+b+=+32000+
(2) +.0575%2Aa+%2B+.0625%2Ab+=+1900+
---------
(2) +575a+%2B+625b+=+19000000+
Multiply both sides of (1) by +575+
and subtract (1) from (2)
(2) +575a+%2B+625b+=+19000000+
(1) +-575a+-+575b+=18400000+
+50b+=+600000+
+b+=+12000+
and, since
(1) +a+%2B+b+=+32000+
(1) +a+%2B+12000+=+32000+
(1) +a+=+20000+
$20,000 should be invested @ 5.75%