Math

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You would like to invest in $12,000 in two different bonds. Some of the amount will be invested in treasury bonds at 10% annual interest and the rest in municipal bonds at 15%. What amount should be invested in each type of bond rate if the annual yield expected is $1,440?

  • Math -

    x = amt invested at 0.10
    y = amt invested at 0.15

    0.10x + 0.15y = 1440
    x + y = 12000

    Solve for x and y simultaneously

    If you are correct,
    x = $7,200
    y = $4,800

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