Tuesday, July 12, 2011

How do you do this algebra problem?

An artist sold a painting for 410,000. He needs some of the money in 6 months and the rest in 1 year. He can get a treasury bond for 6 months at 4.65% and one for a year at 4.91%. His broker tells him the two investments will earn a total of $14, 961. How much interest was earned from each of the investments?

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