Business Solve the following investment problems. (See Example.)Maria Martinelli bought tw...

Business Solve the following investment problems. (See Example.)

Maria Martinelli bought two plots of land for a total of $120,000. On the fi rst plot, she made a profi t of 15%. On the second, she lost 10%. Her total profi t was $5500. How much did she pay for each piece of land?

Example

Finance A fi nancial manager has $15,000 to invest for her company. She plans to invest part of the money in tax-free bonds at 5% interest and the remainder in taxable bonds at 8%. She wants to earn $1020 per year in interest from the investments. Find the amount she should invest at each rate.