Question

Please help me to Solve this problem.
Susan purchased some municipal bonds yielding 7% annually and some certificates of deposit yielding 9% annually. If Susan's investment amounts to $19,000 and the annual income is $1590, how much money is invested in bonds and how much is invested in certificates of deposit?
Seleccione una respuesta.
a. $13,000 in bonds; $6000 in certificates of deposit
b. $5500 in bonds; $13,500 in certificates of deposit
c. $13,500 in bonds; $5500 in certificates of deposit Incorrecto
d. $6000 in bonds; $13,000 in certificates of deposit

Answer 1

Let bonds = x and certificates = y, then
x + y = 19,000 and
.07x +.09y = 1590

We now have a system of equations and can solve by substitution.
x = 19000 - y
If we sub x into the bottom equation, we get
.07(19000 - y) + .09y = 1590
1330 - .07y + .09y = 1590
.02y = 260
y = 13,000 in certificates
Now sub y into the top equation and we get
x = 19000 - 13000
x = 6000 in bonds

Answer 2

Thanks