SOLUTION: you invest 1200 dollars in stock and bonds the stock pays 9% interest and the bonds pay 6% interest if the total annual interest is 96 much is invested in the stock alone dollars h

Question 550179: you invest 1200 dollars in stock and bonds the stock pays 9% interest and the bonds pay 6% interest if the total annual interest is 96 much is invested in the stock alone dollars how

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
you invest 1200 dollars in stock and bonds the stock pays 9% interest and the bonds pay 6% interest if the total annual interest is 96 much is invested in the stock alone dollars how
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Equation:
Quantity:: s + b = 1200
Interest::0.9s + 0.06b = 96
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Multiply thru the Quantity Eq. by 90
Multiply thru the Interest Eq. by 100
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90s + 90b = 90*1200
90s+ 6b = 9600
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Subtract to get:
84b = 98400
b = $1171.43 (amt. invested in bonds)
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Solve for "s":
s + b = 1200
s + 1171.43 = 1200
s = $28.57 (amt. invested in stocks)
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Cheers,
Stan H.
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