Problema Solution
An engineer invested some money in bonds earning 5% interest and $2500 more than twice that amount in mutual funds earning 8% interest. The two accounts earned a total of $1145 in simple interest in one year. How much did she invest in each account?
Answer provided by our tutors
Let x be the amount invetsed in bomds earning 5% interest.
0.05x+(2500+2x)*0.08=1145.
0.05x+200+0.16x=1145.
0.21x=1145-200.
0.21x=945.
x=945/0.21
=$4500.
Amount invetsed in bonds earming 5% simple ineterest=$4500.
Amount invetsed in bonds earning 8% interest =(2500+2*4500)=$11500.