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6 November, 04:57

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%.

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  1. 6 November, 08:23
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    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
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