SOLUTION: Solve the problem using systems of equations with two variables:
Question:
A broker invested $25,000 in two different stocks. One stock earned dividends at 3.5% and the other a
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Question 974062: Solve the problem using systems of equations with two variables:
Question:
A broker invested $25,000 in two different stocks. One stock earned dividends at 3.5% and the other at 4%. If a dividend of $900 was earned on both stocks together, how much was invested in each stock?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Solve the problem using systems of equations with two variables:
Question:
A broker invested $25,000 in two different stocks. One stock earned dividends at 3.5% and the other at 4%. If a dividend of $900 was earned on both stocks together, how much was invested in each stock?
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Quantity Eq:: t + f = 25000 dollars
Interest Eq::0.035t + 0.040f = 900
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Modify for elimination::
35t + 35f = 35*25000
35t + 40f = 900,000
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Subtract and solve for "f":
5f = 25000
f = $5000 (amt. invested at 4%)
25000-f = $20,000 (amt. invested at 3.5%)
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Cheers,
Stan H.
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