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Brian has half of his investments in stock paying a 7% dividend
and the other half in a stock paying 13% interest.
If his total annual interest is $730, how much does he have invested?
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Let x be that half, which is invested at 7%.
Then the otherr half is an equal amount of money.
In a year, first half produces interest of 0.07x dollars.
The other half produces an interest of 0.13x dollars in a year.
Both halves produce the total annual 0.7x+0.13x = 0.2x.
We are given that
0.2x = 730 dollars.
Hence, x = 730/0.2 = 7300/2 = 3650.
Thus one half of the invested amount (each half) is 3650 dollars
and the total invested amount is 2*3650 = 7300 dollars. ANSWER
CHECK. 0.07*3650 + 0.13*3650 = 730 dollars, total annual interest. ! correct !
Solved.