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22 November, 07:40

You are given 10,000 to invest in either 5% tax free bonds or 10% taxable bonds. Your total investment income for a year was $675. How much was invested at each rate?

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  1. 22 November, 07:44
    0
    Let us suppose, I invested $x in 5% tax free bonds

    then $ (10,000-x) is invested in 10% tax free bonds

    Invested income in the 5% tax free bond is 5x/100

    and invested income in the 10% tax free bond is 10 (10,000-x) / 100

    Total investment income for a year was $675

    So we can say,

    10 (10,000-x) / 100 + 5x/100 = 675

    or, 100000 - 10x + 5x = 67500

    or, 5x = 100000 - 67500 ... changing sides or, x = 32500/5

    = 6500

    so, 10000-x = 10000 - 6500 = 3500

    Henceforth, the amount of investment at 5% rate is $6500 and at 10% rate is $3500.
  2. 22 November, 07:52
    0
    At 5% ... $3500

    at 10% ... $6500
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