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Lerok [7]
2 years ago
15

Reggie Means invested part of $31,000 in municipal bonds that earn 7.5% annual simple interest and the remainder of the money in

8.5% corporate bonds. How much is invested in each account if the total annual interest earned is $2,475?
Mathematics
1 answer:
insens350 [35]2 years ago
4 0

Answer:

Principal Invested in Municipal Bonds is $16,000

Principal Invested in Corporate Bonds is $15,000

Step-by-step explanation:

If;

Principal Invested in municipal bonds = a

Principal Invested in corporate bonds = b

then we have;

a + b = $31,000 --------------------------------Equation 1

0.075a + 0.085b = $2,475  ---------------Equation 2

From equation 1 we have;

a = 31,000 - b

By putting the values of a in Equation 2 we get;

0.075 (31,000 - b) + 0.085b = 2,475

2,325 - 0.075b + 0.085b = 2,475

0.01b = 150

b = $15,000

By putting the values of b in equation 1 we get;

a = $16,000

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ASAP Help me please!!
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<h3>Answer:  x = 14</h3>

=============================================

Work Shown:

Refer to the diagram below. I've added a line segment and two variables y and z. This forms two isosceles triangles.

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