Which describes the slope of this line?
2 answers:
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Answer:
$12000 at 5%
$27000 at 6.5%.
Step-by-step explanation:
Let x represent amount invested at 5% and y represent amount invested at 6.5%.
We have been given that a combined total of 39000 is invested in two bonds. We can represent this information in an equation as:
We are also told that the annual interest rate is 2355.00. We can represent this information in an equation as:
Upon substituting equation (1) in equation (2), we will get:
Therefore, an amount of $12,000 is invested at 5%.
Upon substituting in equation (1), we will get:
Therefore, an amount of $27,000 is invested at 6.5%.