Homework Help: math

Posted by Lily on Sunday, August 29, 2010 at 9:06pm.

" A total of $32000 is invested in two municipal bonds that pay 5.75% and 6.25% simiple interest. The investor wants an annual interest income of $1900 from the investments. What amount should be invested in the 5.75% bond?"

math - MathMate, Sunday, August 29, 2010 at 10:29pm
$1900/$32000=5.9375%
Amount invested in 5.75% bond
=$32000*(6.25-5.9375)/(6.25-5.75)
=$20,000

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