SOLUTION: I need help in this problem, thank you.
A company gave a sign on bonus to its new employee. She invested part of this money in bonds at 8% interest annually. Also she invested $
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A company gave a sign on bonus to its new employee. She invested part of this money in bonds at 8% interest annually. Also she invested $
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Question 682819: I need help in this problem, thank you.
A company gave a sign on bonus to its new employee. She invested part of this money in bonds at 8% interest annually. Also she invested $2000 more than this amount in certificates of deposit at 12% annual interest. How much money did she invest if she received $3840 per year in interest from the two investments? Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! .08x+.12y = 3840 ⇒ x is $ at 8%, y is $ at 12%
y = x + 2000
.08x + .12(x+2000) = 3840
.08x + .12x + 240 = 3840
.2x = 3840 - 240
.2x = 3600
x = 18,000 at 8%
y = 18,000 + 2000 = 20,000 at 12%
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