A total of $26,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The investor wants an annual interest income of $1000 from the investments. What amount should be invested in the 3.5% bond? Submit Answer
A total of $26,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The investor wants an annual interest income of $1000 from the investments. What amount should be invested in the 3.5% bond? Submit Answer
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter11: Rational And Irrational Numbers
Section: Chapter Questions
Problem 10MPS
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A total of $26,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The investor eBay’s an annual interest income of $1000 from the investments. What amount should be invested in the 3.5% bond?
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