SOLUTION: Billy invests $1000 more in stocks paying 8% interest, than in his savings account paying 3.5% interest. The bond profit was $260 more than his savings profit. How much did he inve
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Question 926693: Billy invests $1000 more in stocks paying 8% interest, than in his savings account paying 3.5% interest. The bond profit was $260 more than his savings profit. How much did he invest in bonds? Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! a=1000+b
.08a=x
x=y+260
.035b=y
.08a=.035b+260
.08(1000+b) =.035b+260
b=4000 savings at 3.5%
a=5000 at 8%
Make up your mind did he invest in stocks or in bonds?
