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 $1030 from the investments. What amount should be invested in the 3.5% bond?

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 $1030 from the investments. What amount should be invested in the 3.5% bond?

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter11: Systems Of Equations

Section11.CR: Review Problem Set

Problem 36CR: Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6...

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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 wants an annual interest income of $1030 from the investments. What amount should be invested in the 3.5% bond?

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