A total of $24,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest.

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A total of $24,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The investor wants an annual interest income of $930 from the investments. What amount should be invested in the 3.5% bond?

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Algebra and Trigonometry

ISBN: 978-1337271172

10th edition

Authors: Ron Larson

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Question Posted: Feb 14, 2018 03:40 AM

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A total of $24,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest.

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Let x the amount of money invested at 35 Let y the amount of money investe...View the full answer

Algebra and Trigonometry

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