SOLUTION: You have already invested $300 in a stock with an annual return of 11%. How much of an additional $1,500 should be invested at 12% and how much at 6% so that the total return on th

Question 1052455: You have already invested $300 in a stock with an annual return of 11%. How much of an additional $1,500 should be invested at 12% and how much at 6% so that the total return on the entire $1,800 is 9%? (Round each answer to the nearest cent.)
Answer by ikleyn(52794) (Show Source): You can put this solution on YOUR website!
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You have already invested $300 in a stock with an annual return of 11%.
How much of an additional $1,500 should be invested at 12% and how much at 6% so that the total return on the entire $1,800 is 9%?
(Round each answer to the nearest cent.)
~~~~~~~~~~~~~~~~~~~~~~~~

Let x = the amount invested at 12%,
    y = the amount invested at  6%.

Then you have this system of two equations in two unknowns to find x and y.

    x +     y = 1500,                   (1)
0.12x + 0.06y = 0.09*1800 - 0.11*300.   (2)

Solve it by any method you know.

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