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A combined total of 24000 is invested in two bonds that pay 7.5 and 9 simple interest The total annual interest is 1935 How much is invested in each bond?
LittoAznSupaStah
x = the amount of money that was invested at the first bond
y = the amount of money that was invested at the second bond
x + y = 24,000 so, y = 24,000 - x
0.075x + 0.09y = 1935
0.075x + 0.09(24,000 - x) = 1935
0.075x + 2160 - 0.09x = 1935
-0.015x = - 225
0.015x = 225
x = 225/0.015
x = 15,000, this is the amount of money that was invested in the first bond
y = 24,000 - x
y = 24,000 - 15,000
y = 9,000, this is the amount of money that was invested in the second bond
Check it:
15,000 x 0.075 = 1,125
9,000 x 0.09 = 810
1,125 + 810 = 1,935
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