SOLUTION: Kevin has half of his investments in stock paying a 9% dividend and the other half in a stock paying 11% interest. If his total annual interest is $780, how much does he have inves

SOLUTION: Kevin has half of his investments in stock paying a 9% dividend and the other half in a stock paying 11% interest. If his total annual interest is $780, how much does he have inves

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Question 998755: Kevin has half of his investments in stock paying a 9% dividend and the other half in a stock paying 11% interest. If his total annual interest is $780, how much does he have invested?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x=1/2 his investment
.09x+.11x=780
Multiply everything by 100
9x+11x=78000
20x=78000
x=3900
He has $7800 invested.
The average return is 10%, and the product is $780.
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