• anonymous
Bob wants to invest $100,000. A saving account yields 5% per year and bond yields 11% per year. Bob earned $9800. how much money did he invest in each?
  • Stacey Warren - Expert
Hey! We 've verified this expert answer for you, click below to unlock the details :)
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
  • chestercat
I got my questions answered at in under 10 minutes. Go to now for free help!
  • nowhereman
Introduce variables for the amount he invests in each option and write the given information as mathematical equations. Then solve for those variables. Don't forget that he invests all his money in either of those options.
  • dumbcow
x is money invested in savings y money invested in bonds x+y = 100,000 .05x + .11y = 9800 solve for x and y using substitution or elimination

Looking for something else?

Not the answer you are looking for? Search for more explanations.