SOLUTION: Lee invested $1,500 more in a 5% bond than she invested in a 4% bond. The combined yearly interest from both bonds was $282. Find the amount invested in each bond.
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Question 659738: Lee invested $1,500 more in a 5% bond than she invested in a 4% bond. The combined yearly interest from both bonds was $282. Find the amount invested in each bond. Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! x = $ in 5% bond
y = $ in 4% bond
x = y + 1500
.05x + .04y = 282
Plug the x into the second equation
.05(y + 1500) + .04y = 282
Distribute the .05
.05y + 75 + .04y = 282
Combine like terms
.09y + 75 = 282
.09y + 75 - 75 = 282 - 75
.09y = 207
.09y/.09 = 207/.09
y = $2,300
Plug y into the first equation
x = 2300 + 1500 = 3800
x = $3,800
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