a total of $46,000 is invested into 2 municipal bonds that pay 5.75% and 7.75% simple interest. the investor wants an annual income of $3225 from the investments

Question

a total of $46,000 is invested into 2 municipal bonds that pay 5.75% and 7.75% simple interest. the investor wants an annual income of $3225 from the investments. what amount should be invested in the 5.75% bond?

Answer 1

.0575(X) + .0775(46000-X) = 3225

.02X = 3565-3225 = 340

X = 340/.02 = 17000 invested at 5.575%

46000-1700 = 29000 invested at 7.75% to ge annual returns of 3,225

.0575(1700) + .0775(29000) = 977.5 + 2247.5 = .3225