SOLUTION: Signe received a $5200 income tax refund from the federal government. She invested some of the money in a bond paying 3.2% interest and the rest in a bond paying 3% intetest. She
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-> SOLUTION: Signe received a $5200 income tax refund from the federal government. She invested some of the money in a bond paying 3.2% interest and the rest in a bond paying 3% intetest. She
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Question 659732: Signe received a $5200 income tax refund from the federal government. She invested some of the money in a bond paying 3.2% interest and the rest in a bond paying 3% intetest. She earned a total of $162.45 interest in one year. How much money did she invest in the 3% bond? How do I figure this? Thank you!!! Found 2 solutions by lwsshak3, josmiceli:Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! Signe received a $5200 income tax refund from the federal government. She invested some of the money in a bond paying 3.2% interest and the rest in a bond paying 3% intetest. She earned a total of $162.45 interest in one year. How much money did she invest in the 3% bond?
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let x= money invested in a bond paying 3.0% interest
5200-x=money invested in a bond paying 3.2% interest
..
3%x+3.2%(5200-x)=162.45
.03x+166.40-.032x=162.45
.002x=3.95
x=3.95/.002
x=1975
money invested in a bond paying 3.0% interest=$1975
You can put this solution on YOUR website! Let = amount invested in 3.2% bond
Let = amount invested in 3% bond
given:
(1)
(2)
---------------------------------
(2)
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
and, since
(1)
(1)
(1)
She invested $1,975 in the 3% bond
check:
(2)
(2)
(2)
(2)
OK
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