7. A total of $12,000 was invested in two types of bonds. One pays 8% simple interest while the other

pays 10.5%. Last year, the annual interest earned on the two investments was $1,145. How much was

invested at each rate?

Question

Mathematics

Raiden

24 March, 23:57

7. A total of $12,000 was invested in two types of bonds. One pays 8% simple interest while the other

pays 10.5%. Last year, the annual interest earned on the two investments was $1,145. How much was

invested at each rate?

+2

Answers (2)

Know the Answer?

Justice Zuniga · Answer 1

Step-by-step explanation:

add 8,000 with 3,000 and then add 1,145

Jaime Conrad · Answer 2

Step-by-step explanation:

Let x = $ invested in 8% account

y = $ invested in 10.5% account

x + y = 12000

0.08x + 0.105y = 1145

$4600 invested in the 8% account

and $7400 invested in the 10.5%

account

7. A total of $12,000 was invested in two types of bonds. One pays 8% simple interest while the otherpays 10.5%. Last year, the annual interest earned on the two investments was $1,145. How much wasinvested at each rate?

7. A total of $12,000 was invested in two types of bonds. One pays 8% simple interest while the other

pays 10.5%. Last year, the annual interest earned on the two investments was $1,145. How much was

invested at each rate?