A total of $21,000 is invested in two bonds that pay 4% and 7.5% simple interest. The bond with a 7.5% interest rate earned 6 times as much interest as the bond with a 4% interest rate.
1. How much is invested in each bond?
2. What was the total interest earned?
Answer (1)
21000=a+b ax.075xt=6xbx.04xt t cancels out a=3.2b 21000= 3.2b+b 21000=4.2b b=5000 a=16000
account with 7.5% had 16000 invested in it. account with 4% had 5000 invested in it
