Author Whitneymann in Mathematics, 08.13.2018

A combined total of $46,000 is invested in two bonds that pay 4% and 9.5% simple interest. The annual interest is $3,490.00. How much is invested in each bond?

Answered by FileT

Answer: 4%-16000 and 9.5%-30000Why:1) x+y=46000x=46000-y2) 4%x+9,5%y=3490;4x + 9.5y=349000; so 4*(46000-y)+9.5y=349000;5.5y=165000y=30000x=46000-30000=16000

Didn't find the right answer?

Use site search If you are not satisfied with the answer. Or browse Mathematics category to find out more.