Problema Solution
Bruce invested in stock paying a 10.5% dividend. Maya invested $4,000 more than Bruce in tax-free bonds paying 7.5% annual simple interest. If Maya's income from investment is $75 more than Bruce's find how much money each of them invested.
Answer provided by our tutors
Bruce invested $ x in stock.
10.5x/100 + 75 = 7.5(x + 4000)/100
10.5x + 7500 = 7.5x + 30000
3x = 22500
x = $ 7500 = Bruce invested in stock
Maya invested in bond = $ 11500