Question

Nancy wants to invest her 50000.She invests part of it in corporate bonds paying 15% interest per year and the other part in a bank certificate that pays 7% interest per year.How much money should she invest at each rate to yield 6000 interest per year?

Answer 1

07m+.15(50000-m)=6000
7m+15(50000-m)=600000
7m+750000-15m=600000

8m=150000
m=18750
50000-m=31250
Nancy needs to invest $18,750 at 7% and $31250 at 15%..

Answer 2

Let x be the amount invested in the 15% account. Then 50,000 - x is the amount invested in the 7% account. Total interest from both accounts is
.15x + .07(50,000 - x) = 6,000
.08x + 3,500 = 6,000
.08x =2,500
x = 31,250
50,000 - x = 18,750.
Nancy should invest %31,250 in the 15% account and $18,750 in the 7% account.

Answer 3

thank you guys.

Answer 4

:^)