SOLUTION: A financial planner wants to invest $8000, some in stock earning 15% annually and the rest in bonds earning 6% annually. How much should be invested at each rate to get a return of

Question 264270: A financial planner wants to invest $8000, some in stock earning 15% annually and the rest in bonds earning 6% annually. How much should be invested at each rate to get a return of $930 annually from the two investments?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.15x+.06(8,000-x)=930
.15x+480-.06x=930
.09x=930-480
.09x=450
x=450/.09
x=5,000 invested @ 15%.
8,000-5,000=3,000 invested @ 6%
Proof:
.15*5,000+.06*3,000=930
750+180=930
930=930
RELATED QUESTIONS
A financial planner wants to invest $8000, some in stocks earning 15% annually and the... (answered by richwmiller)

A financial planner wants to invest $8000, some in stocks earning 15% anually and rest in (answered by jcon16)

A financial planner wants toinvest 8000 some in stocks earning 15% annually and the rest... (answered by mananth,stanbon)

Please help me solve this problem, step by step: "A financial planner wants to invest... (answered by jorel1380,lwsshak3)

A prudent investor wants to invest $14000, some in stocks earning 12% annually and the... (answered by addingup)

Mr. Scurtu wants to invest some of his $10,000 in an aggressive stock fund that he... (answered by josgarithmetic,greenestamps)

Mohammad Aran a financial planner recommended that 40% of a client cash account be... (answered by checkley79)

Jasmine wants to earn $2000 in simple interest through a bank account earning 5%... (answered by ikleyn)

A person has 25000 total to invest in two municipal bonds. The interest rates are 5.2%... (answered by Boreal)