Problema Solution
A total of 10,000 was invested in two bond funds, a junk bond fund and a government bond fund. The junk bond fund is risky and yields 11% interest. The safe government bond fund yields 5%. The years's total income from the two investment was $740. How much was invested in each fund?
Answer provided by our tutors
Let 'j' and 'g' stand for the amount invested in the junk and government bonds respectively. We can write:
j+g=10000
.11j+.05g=740
Using Algebrator to solve for 'j' and 'g', we get:
j=$4000
g=$6000