Answer:
Sum of money invested in corporate bonds = 30,000
Step-by-step explanation:
Total sum = 40,000
The rate of interest for corporate bonds = 10 % = 0.1
The rate of interest for municipal bonds = 6 % = 0.06
Total interest = 3600
Let sum of money invested in corporate bonds = x
The sum of money invested in municipal bonds = 40000 - x
× 0.1 × 1 + () × 0.06 × 1 = 3600
(0.1- 0.06) + 2400 = 3600
0.04 = 1200
= 30,000
Since x = sum of money invested in corporate bonds
So sum of money invested in corporate bonds = 30000
Answer:
x=3 hope this helps
Step-by-step explanation:
Answer:the correct answer is b
Step-by-step explanation:
Hi there! So, the simple interest is 7.5% annually. Let’s multiply by initial amount by the interest rate. 5,000 * 7.5% is 375. You earn $375 in interest annually. The difference of 6,500 and 5,000 is 1,500. Let’s divide by 375 to see how many times it goes into 1,500. 1,500/375 is 4. It will take 4 years for the balance of the account to be $6,500.