Merry had $20,000 to invest. She invested part of this money in bonds paying 10% annual simple interest and the rest of the money in a savings account giving 5% annual interest. At the end of the year, she received $1,800 as extra income. How much money did Merry place in the savings account?

20,000-x(bonds 10%)=savings (5%) or 20,000-x=y (x times 10%) + (y times 5%) = 1,800 x/10+y/20=1,800 y=20,000-x x/10+(20,000-x)/20=1,800 multiply x/10 by 2/2 and add to get 2x/20+(20,000-x)/20=1,800 (2x+20,000-x)/20=1800 (x+20,000)/20=1800 multiply both sides by 20 x+20,000=36,000 subtract 20,000 from both sides x=16,000 20,000-x=y y=4,000 16,000 in bonds 4,000 in savings

Answered by apologiabiology | 2024-06-10

Merry invested $16,000 in bonds and $4,000 in a savings account. Therefore, she placed $4,000 in the savings account. This distribution resulted in an extra income of $1,800 after one year.
;

Answered by apologiabiology | 2025-06-13