Problema Solution
Vivian invested a total of $5600 in two bonds. She invested in one bond at 2% per annum and in another bond at 5% per annum. In one year, the interest earned on each bond was the same. How much did Vivian invest in each bond?
Answer provided by our tutors
let
x = the money invested at the 2% bond
y = the money invested at the 5% bond
Vivian invested a total of $5600 in two bonds
x + y = 56000
In one year, the interest earned on each bond was the same
0.02x = 0.05y
by solving the system of equations
x + y = 56000
0.02x = 0.05y
we find
x = $40,000
y = $16,000
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Vivian invested $40,000 in 2% bonds and $16,000 in 5% bonds.