Concept explainers
To find: The amount invested in the bounds.
Answer to Problem 16P
The amount invested at
Explanation of Solution
Given:
Theannual income is
The money is invested at
The income increases by
Calculation:
Consider the amount invested at
Then, the total income is,
Since, interchanging the investment increases the income by
Then,
Then, the amount invested at
Chapter 9 Solutions
Algebra: Structure And Method, Book 1
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