SOLUTION: Please help me solve this problem, step by step: "A financial planner wants to invest $8000, some in stocks earning 15% annually and the rest in bonds earning 6% annually. How m

Question 486089: Please help me solve this problem, step by step:
"A financial planner wants to invest $8000, some in stocks 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?"
Found 2 solutions by jorel1380, lwsshak3:
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
.15(n)+.06(8000-n)=930
15n+6(8000-n)=93000
15n+48000-6n=93000
9n=45000
n=5000
The planner would have to invest $5000 at 15% and $3000 at 6% to make his money..
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
A financial planner wants to invest $8000, some in stocks 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
***
let x= dollar amount invested in stocks
8000-x=dollar amount invested in bonds
..
15% (x)+6% (8000-x)=930
.15x+480-.06x=930
.09x=930-480=450
x=5000
8000-x=3000
Ans:
Invest in stocks: $5000
Invest in bonds: $3000
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