Question 803860: A physician invests $24,000 in bonds. If one bond yeilds 6% and the other yeilds 12%, how much is invested in each if the annual income from both bonds in $1980?
to start the problem, i made a chart. writing bond 1 and bond 2. then made bond one (x) and bond two is (24,000 - x) then bond one at .06 and bond two .12 how do i continue from there?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A physician invests $24,000 in bonds. If one bond yeilds 6% and the other yeilds 12%, how much is invested in each if the annual income from both bonds in $1980?
to start the problem, i made a chart. writing bond 1 and bond 2. then made bond one (x) and bond two is (24,000 - x) then bond one at .06 and bond two .12 how do i continue from there?
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Interest Equation::
int + int = int
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0.06x + 0.12(24000-x) = 1980
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6x + 12*24000 - 12x = 198000
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-12x = 198000 - 288000
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-12x = -90000
x = $7500 (amt. invested at 6%)
24000 - x = $16,500 (amt. invested at 12%
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Cheers,
Stan H.
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