Kim invested a total of $1500 between two bonds. One bond earned 8% per annum and the other bond earned 10% per annum. In one year, Kim earned $132 on her investments. How much did she invest in the bond that earned 10%?
someone please give me a detailed explanation ive been stuck for the past 30 minjutes trying to figure out an equation
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2 bonds. therefore x and y is the amount in each.
x + y = 1500...
8 percent per annum, so 1.08x is left after a year,
10 percent per annum so 1.10y is left after a year.
132 was earned therefore.
x+y = 1500
1.08x + 1.1y = 1500+132.
solve the system of equations.
wait, how did you get 1.08 and 1.10?
oh. 8% GAIN so you already have 100% because that is the full value, so after a year it is 108%, do you see why?