SOLUTION: John had $30,000 to invest. He invested part of this money in bonds paying 12% annual simple interest and the rest of the money in a savings account giving 4% annual interest. At t
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Question 959253: John had $30,000 to invest. He invested part of this money in bonds paying 12% annual simple interest and the rest of the money in a savings account giving 4% annual interest. At the end of the year, he received
$2,400 as extra income. How much money did John place in each investment?
You can put this solution on YOUR website! Let = amount invested @ 12% = amount invested @ 4%
and
and
by substitution:
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He invested $15,000 in both
check:
and
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OK
