Question

kelly has a total of 30000 to be invested in two municipal bonds. Bond A yields 8% interest per year and bond b yields 10% interest per year. How much should kelly invest in each bond if she requires an annual income of 2740 from her bond investments?

Answer 1

x+y=30000
8%x+10%y=2740

x+y=30000
y=30000-x

8%x+10%y=2740
0.08x+0.1y=2740
0.08x+0.1(30000-x)=2740
0.08x+3000-0.1x=2740
-0.02x=2740-3000
-0.02x=-260
x=13000(this is an amount that has 8% interest)

x+y=30000
13000+y=30000
y=30000-13000
y=17000(this is for an investment with 10% interest)

Answer 2

Thank you!!