SOLUTION: A person has 25000 total to invest in two municipal bonds. The interest rates are 5.2% and 6%. The client wants to collect 1350 annually on the bond paying 6% interest. How much

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Question 999895: A person has 25000 total to invest in two municipal bonds. The interest rates are 5.2% and 6%. The client wants to collect 1350 annually on the bond paying 6% interest. How much does he need to invest
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
1350=p*0.06
principal=$22,500
That is what needs to be invested at 6%