3.3 Exercise 66

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?