Ebony bought a 4-yr Treasury note that paid the equivalent of 2.8% simple interest. She invested $4000 more in a 9-yr bond earning 3.6% than she did in the Treasury note. If the total amount of interest from these investments was $4348, determine the amount of principal for each investment. Ebony invested $_______ in the Treasury note and $_______ in the bond.

Ebony bought a 4-yr Treasury note that paid the equivalent of 2.8% simple interest. She invested $4000 more in a 9-yr bond earning 3.6% than she did in the Treasury note. If the total amount of interest from these investments was $4348, determine the amount of principal for each investment. Ebony invested $_ in the Treasury note and $_ in the bond.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.50TI: Susana invested a principal of $36,000 in her bank account that earned simple interest at an...

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