Question

Ebony but a four year treasury note that pay the equivalent of 3.8% simple interest. She invested $3000 more in a 9 year bond earning 4.6% than she did in the treasury note. If the total amount of interest from these investments was $5204 determine the amount of principle of each investment. Please help!

Answer 1

Treasury bond's invested amount is "$7000" and Bond's invested amount is "$10000",

Let,

• The amount invested in treasury note will be = x
• The amount invested in bond will be = (x + 3000)

then,

→ $\frac{x\times 4\times 3.8}{100} +\frac{(3000+x)\times 9\times 4.6}{100}=5204$

→       $\frac{15.2x}{100}+\frac{(3000+x)\times 41.4}{100} =5204$

→         $\frac{15.2x}{100} +\frac{124200+41.4x}{100} =5204$

→            $\frac{15.2 x+124200+41.4x}{100} = 5204$

→               $56.6x+124200=520400$

→                               $56.6x=520400-124200$

→                               $56.6x=396200$

→                                      $x = \frac{396200}{56.6}$

→                                         $= 7000$

Amount invested in bond will be:

= $x+3000$

= $7000+3000$

= $10000$    

Thus the above is the correct answer.

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