SOLUTION: You invested $10,000.00 in stocks and bonds, paying 5.3% and 8%, respectively. If the total interest earned for the year was $763.00, how much was invested in stocks and how much

Algebra ->  Human-and-algebraic-language -> SOLUTION: You invested $10,000.00 in stocks and bonds, paying 5.3% and 8%, respectively. If the total interest earned for the year was $763.00, how much was invested in stocks and how much      Log On


   

Question 710208:
You invested $10,000.00 in stocks and bonds, paying 5.3% and 8%, respectively. If the total interest earned for the year was $763.00, how much was invested in stocks and how much was invested by bonds?
Answer by checkley79(3341) About Me  (Show Source):
You can put this solution on YOUR website!
.053X+.08(10,000-X)=763
.053X+800-.08X=763
-.027X=763-800
-.027X=-37
X=-37/.027
X=$1,370.37 AMOUNT INVESTED @ 5.3%.
10,000-1,370.37=$8,629.63 AMOUNT INVESTED @ 8%.
PROOF:
.053*1,370.37+.08*8,629.63=763
72.63+690.37=763
763=763