Word Problem about Stocks and Bonds, Simple Interest

Question

Verna invested part of a $10,000 inheritance in stocks paying 6.5% simple interest annually. She invested the rest in bonds paying 4.25% simple interest annually. If Verna will receive $582.50 in interest after one year, how much did she invest in stocks? How much did she invest in bonds?

 

Dont even know where to start with this one, needed for my college math test tomorrow. Any help would be greatly appreciated 

Answer 1

X is invested in stocks and Y is invested in bonds

 

X+Y = 10000

 

0.065X + 0.0425Y = 582.50 is the interest returned

 

0.065X + 0.0425(10000 - X) = 582.50

 

650X + 425(10000 - X) = 5825000

 

650X - 425X = 5828000 - 4250000

 

 

 

X=7013.33

Y = 2986.66