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Mila [183]
3 years ago
11

Timmy has three times as much money invested at 5% bonds as he has in stocks paying 7%. If his annual income from the stocks and

bonds is $158.40, how much has he invested in bonds?
Mathematics
1 answer:
Art [367]3 years ago
4 0
Let b repesent the amount Timmy has invested in bonds. Then b/3 represents the amount Timmy has invested in stocks. His earnings are
  158.40 = 0.05*b + 0.07*(b/3)
  158.40 = (0.22b)/3 . . . . . . . . . . combine terms
  158.40*3/0.22 = b = 2160

Timmy has $2160.00 invested in bonds.
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