OpenStax, Elementary Algebra 2e §3.3 Solve Mixture Applications · Exercise 39 · Algebra · Algebra word problems
Solve Mixture Applications · Exercise 39
Solve each mixture word problem.
Vartan was paid $25,000 for a cell phone app that he wrote and wants to invest it to save for his son’s education. He wants to put some of the money into a bond that pays 4% annual interest and the rest into stocks that pay 9% annual interest. If he wants to earn 7.4% annual interest on the total amount, how much money should he invest in each account?
OpenStax, Elementary Algebra 2e · §3.3 Solve Mixture Applications · Exercise 39
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