Question
An artist invests in a tax-free bond paying $6 \%,$ and $\$ 6000$ more than three times as much in mutual funds paying $5 \% .$ Her total annual interest income from the investments is $\$ 825 .$ How much does she invest at each rate?
Step 1
According to the problem, the artist invested $6000 more than three times this amount in mutual funds paying 5%. So, the amount of money invested at 5% is $3X + 6000$. Show more…
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An artist invests in a mutual fund account paying $6 \%$, and $\$ 6000$ more than three times as much in a mutual fund account paying $5 \%$. Her total annual interest income from the investments is $\$ 825 .$ How much does she invest at each rate?
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Work each investment problem using simple interest. An artist invests in a tax-free bond paying $6 \%,$ and $\$ 6000$ more than three times as much in mutual funds paying $5 \% .$ Her total annual interest income from the investments is S825. How much does she invest at cach rate?
an artist invests in a mutual fund account paying 8% and $8000 more than three times as much in a mutual fund account paying 6%. her total annual interest income from the investments is $1520. how much does she invest at each rate?
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