Rebecca received an inheritance of $ 60000. She invested part in a savings account at 1.25% and deposited the remainder in tax-free bonds at 2%. Her total annual income from the investments was $ 825. Find the amount invested at 1.25%.

Question

Donavan Mckinney

Business

5 November, 15:51

Rebecca received an inheritance of $ 60000. She invested part in a savings account at 1.25% and deposited the remainder in tax-free bonds at 2%. Her total annual income from the investments was $ 825. Find the amount invested at 1.25%.

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Answers (1)

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Heath Mclaughlin · Answer 1

Find the amount invested at 1.25%.

$10000

Explanation:

Amount invested: $60000

x+y=60000,

Total income: 825

0.125*x+0.2*y=825

x=60000-y

0.125 * (60000-y) + 0.2*y=825

750-0.0125y+0.02y=825

0.0075y=825-750

y=10000

x=50000

10000 200

50000 625