SOLUTION: James invested cash in two bonds. He chose to invest $2000 more in Bond B than in Bond A. He earned a 6% return on Bond A and a 10% return from Bond B. If he earned a total return

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Question 911178: James invested cash in two bonds. He chose to invest $2000 more in Bond B than in Bond A. He earned a 6% return on Bond A and a 10% return from Bond B. If he earned a total return of $2200 from the two bonds, how much did he invest on Bond A?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
We don't know the total invested.
We know the difference in the two accounts.
We know that the interest for the two accounts is $2200
0.06*x+0.1*y=2200
We know that the account at 6% has $2000 more.
x=2000+y
We substitute for x
0.06*(2000+y)+0.1*y=2200
We multiply out
120+0.06y+0.1*y=2200
We combine like terms.
0.16*y=2080
Isolate y
y=$13000 at 10%
x=2000+y
Calculate x
x=$15000 at 6%
Now,we know the total invested is: 28000
Total invested $15000+$13000=$28000
We check
0.06*15000+0.1*13000=2200
900+1300=2200
2200=2200
Since this statement is TRUE and neither x nor y is negative all is well.
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