A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

calculusxy

  • one year ago

A total of $20,000 is invested in two bonds that pay 8% and 9.5% in interest. The annual interest is $1675. How much is invested in each bond?

  • This Question is Closed
  1. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    @Deeezzzz

  2. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    x = amount invested at 8% 20000-x= amount invested at 9.5%

  3. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    How does 2000-x equal to 9.5%?

  4. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    it's 20000-x

  5. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Yeah sorry that.

  6. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    .08x = interest earned on 8% investment .095(20000-x)= interest earned on 9.5% investment

  7. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    Total interest earned is $1675 Write and solve the equation that says the sum of the two interest amounts is1675

  8. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    .08x + .095(20000-x) = $1675

  9. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    Solve it.

  10. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    0.08x + 0.095(20000-x) = 1675 0.08x + 1900 + 0.095x = 1675 0.175x + 1900 = 1675 0.175x = -375 2142?

  11. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    -.095x

  12. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    For what? Why is it negative?

  13. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    \[.095(20000-x)=1900-.095x\]

  14. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    oh yeah

  15. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    0.705x = 1675 x = 2375

  16. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    \[.08x+.095(20000-x)=1675\] \[.08x+1900-.095x=1675\] \[-.015x+1900=1675\] \[-.015x=-225\] \[\frac{-.015x}{-.015}=\frac{-225}{-.015}\] \[x=15000\]

  17. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    I am sorry. I am really tired so I can't focus as usual. I have to get it on track. :)

  18. Mertsj
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 2

    So 15000 was invested at 8% 20000-x=5000 = amount invested at 9.5%

  19. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    x= 15000

  20. calculusxy
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    So those are the answers right?

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

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.