Question

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%.

Answer 1

Answer:

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