A sum of $15,000 was invested in two municipal bonds, which pay 7% and 9% simple interest. The annual interest is $1230. Find the amount at each rate.

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.40TI: Susana invested a principal of $36,000 in her bank account with interest rate 6.5%. How much...
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A sum of $15,000 was invested in two municipal bonds, which pay 7% and 9%
simple interest. The annual interest is $1230. Find the amount at each rate.
1.
15.000
Transcribed Image Text:A sum of $15,000 was invested in two municipal bonds, which pay 7% and 9% simple interest. The annual interest is $1230. Find the amount at each rate. 1. 15.000
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