Homework Help: Math

Posted by Bailey on Thursday, September 23, 2010 at 8:10am.

An inheritance of $40,000 is invested in two municipal bonds which pay 6% and 7% simple annual interest. If the annual interest from both bonds is $2,550 how much is invested at each rate?

Math - MathMate, Thursday, September 23, 2010 at 9:52am
Let x be the amount invested in 6% bonds, so 40000-x is the amount in 7%.
x*0.06+(40000-x)*0.07=2550
Solve for x.

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