Question 924945: Mr.walker invested 30,000 in stocks and bonds and had a total return of $2880 in one year . If his stock investment returned 10% and his bond returned 9% , then how much did he invest in each ?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Mr.walker invested 30,000 in stocks and bonds and had a total return of $2880 in one year . If his stock investment returned 10% and his bond returned 9% , then how much did he invest in each ?
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Using 2 variables::
Quantity:: t + n = 30,000 dollars
Interest:10t +9n = 288000
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Modify for elimination::
10t + 10n = 300000
10t + 9n = 288000
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Subtract and solve for "n"::
n = 12000 (amt invested at 9%
30,000-12000 = 18000 (amt invested at 10%
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Cheers,
Stan H.
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