Question 902691
We know the total amount of money invested. $3600
A) x+y=3600,
We know that the total interest for the year for the two accounts is $156
B)0.07*x+0.03*y=156
x=3600-y
We substitute for x
0.07*(3600-y)+0.03*y=156
We multiply out
252-0.07y+0.03*y=156
We combine like terms.
-0.04*y=-96
Isolate y
C) y=2400 at 3% bonds
x=3600-y
Calculate x
x=1200 at 7% stocks
We check
0.07*1200+0.03*2400=156
84+72=156
156=156
Since this statement is TRUE and neither amount is negative then it is ok