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

Find the amount invested at 1.25%.

$10000

Step-by-step 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