Susan purchased some municipal bonds yielding 7% annually and some certificates of deposit yielding 9% annually. if Susan's investment amounts to $19,000 and the annual income is $1,590, how much money is invested in bonds and deposits?

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Susan purchased some municipal bonds yielding 7% annually and some certificates of deposit yielding 9% annually. if Susan's investment amounts to $19,000 and the annual income is $1,590, how much money is invested in bonds and deposits?

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Answer 1 · 2018-06-30T05:07:57

Certificates of deposits $= $ .13000$ $=$.13000$
Bonds $= $ .6000$ $=$.6000$

Explanation:

Susan buys bonds worth $= $ . x$ $=$.x$
She buys certificates of deposits worth $= $ . y$ $=$.y$

Yield from bond $= x \times \frac{7}{100} = \frac{7 x}{100}$ $=x xx 7/100=(7x)/100$
yield from certificates $= y \times \frac{9}{100} = \frac{9 y}{100}$ $=y xx 9/100=(9y)/100$

Then,

$x + y = 19000$ $x+y=19000$ --------(1)
$\frac{7 x}{100} + \frac{9 y}{100} = 1590$ $(7x)/100+(9y)/100=1590$ Multiplying both sides by 100, we get

$7 x + 9 y = 159000$ $7x+9y=159000$ -----(2)

Solving equation(1) for $x$ $x$ , we get $x = 19000 - y$ $x=19000-y$

Substitute $x = 19000 - y$ $x=19000-y$ in equation (2), we get

$7 (19000 - y) + 9 y = 159000$ $7(19000-y)+9y=159000$

$133000 - 7 y + 9 y = 159000$ $133000-7y+9y=159000$

$133000 + 2 y = 159000$ $133000+2y=159000$

$2 y = 159000 - 133000 = 26000$ $2y=159000-133000=26000$

$y = \frac{26000}{2} = 13000$ $y=26000/2=13000$

$y = 13000$ $y=13000$

Certificates of deposits $= $ .13000$ $=$.13000$

Substitute $y = 13000$ $y=13000$ in equation (1)

$x + 13000 = 19000$ $x+13000=19000$

$x = 19000 - 13000 = 6000$ $x=19000-13000=6000$

Bonds $= $ .6000$ $=$.6000$

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Susan purchased some municipal bonds yielding 7% annually and some certificates of deposit yielding 9% annually. if Susan's investment amounts to $19,000 and the annual income is $1,590, how much money is invested in bonds and deposits?

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