SOLUTION: A person invests $5000 in mutual funds and bonds. The mutual funds pay 8% annual interest, and the bonds pay 10% annual interest. If the annual income from both is $480, how much i
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Question 942865: A person invests $5000 in mutual funds and bonds. The mutual funds pay 8% annual interest, and the bonds pay 10% annual interest. If the annual income from both is $480, how much is invested in each? Answer by TimothyLamb(4379) (Show Source):
You can put this solution on YOUR website! x = dollar amount invested at 8%
y = dollar amount invested at 10%
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x + y = 5000
0.08x + 0.10y = 480
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put the system of linear equations into standard form
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x + y = 5000
0.08x + 0.10y = 480
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copy and paste the above standard form linear equations in to this solver:
https://sooeet.com/math/system-of-linear-equations-solver.php
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solution:
x = 1000
y = 4000
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