Ben invites red part of his $15,000 savings in stocks paying 4.25% simple interest annually. He invested the rest in bonds paying 3.75% simple interest annually. If Ben earned $594.50 in interest after one year, how much did he invest in stocks? How much did he invest in bonds?

he invested $8600 in bonds.

Step-by-step explanation:

Let x represent the part of his money that he invested in stocks.

Let y represent the part of his money that he invested in bonds.

Ben invested part of his $15,000 savings in stocks paying 4.25% simple interest annually. He invested the rest in bonds paying 3.75% simple interest annually. It means that

x + y = 15000

The interest that he would earn on the amount invested in stocks after 1 year is

4.25/100 × x = 0.0425x

The interest that he would earn on the amount invested in bonds after 1 year is

3.75/100 × y = 0.0375y

If Ben earned $594.50 in interest after one year, it means that

0.0425x + 0.0375y = 594.5- - - - - - 1

Substituting x = 15000 - y into equation 1, it becomes

0.0425(15000 - y) + 0.0375y = 594.5

637.5 - 0.0425y + 0.0375y = 594.5

- 0.0425y + 0.0375y = 594.5 - 637.5

- 0.005y = - 43

y = - 43/- 0.005

y = $8600

x = 15000 - 8600

x = $6400

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