Answer:
she invested $7013.33 in stocks and she invested $2986.7 in bonds?
Step-by-step explanation:
Let the amount invested in the stock= X
Let the amount invested in the bond= Y
For quantity equation,
X + Y = 10000 ............eqn(1)
✓We are told inheritance in stocks paying 6.5% simple interest = 0.065X
✓we are told She invested the rest in bonds paying 4.25% simple interest= 0.0425Y
The interest equation can be written as
0.065X + 0.0425Y = 582.50.........eqn(2)
We can make X subject of formula from eqn(1)
X= 10000 - Y
Substitute into eqn (2)
0.065(1000-Y) + 0.0425Y= 582.50
Multiply through by 10000
650(10000 - Y) + 425Y = 5825000
6500000 - 650Y + 425Y =5825000
Y= 2986.66
If we substitute Y into (X + Y )= 10000
X+2986.66= 10000
X= 7013.33
hence, she invested $7013.33 in stocks and she invested $2986.7 in bonds?
