SOLUTION: You have already invested $450 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 12% and how much at 6% so that the total return on th
Algebra.Com
Question 911346: You have already invested $450 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 12% and how much at 6% so that the total return on the entire $1,650 is 9%?
Found 2 solutions by lwsshak3, josmiceli:
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
You have already invested $450 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 12% and how much at 6% so that the total return on the entire $1,650 is 9%?
***
let x=amt invested at 12%
1200-x=amt invested at 6%
11%450+12%x+.06(1200-x)=9%*1650
49.50+.12x+72-.06x=148.50
.06x=27
x=450
1200-x=750
$1200 invested at 12%=$450
$1200 invested at 6%=$750
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount to be invested @ 12%
Let = amount to be invested @ 6%
-------------------
-------------------
$450 should be invested @12%
$750 should be invested @ 6%
------------
check:
OK
RELATED QUESTIONS
1)You have already invested $450 in a stock with an annual return of 11%. How much of an... (answered by solver91311)
You have already invested $450 in a stock with an annual return of 11%. How much of an... (answered by Theo)
You have already invested $450 in a stock with an annual return of 11%. How much of an... (answered by richwmiller)
You have already invested $450 in a stock with an annual return of 11%. How much of an... (answered by ewatrrr)
You have already invested $550 in a stock with an annual return of 11%. How much more... (answered by stanbon)
You have already invested $350 in a stock with an annual return of 11%. How much of an... (answered by josmiceli)
You have already invested $550 in a stock with an annual return of 11%. How much of an... (answered by ReadingBoosters)
You have already invested $550 in a stock with an annual return of 11%. How much of an... (answered by ReadingBoosters)
You have already invested $500 in a stock with an annual return of 11%. How much of an... (answered by mananth)