SOLUTION: John invested $30k in various stocks & bonds. He earned 6% on his bonds
and 12% on his stocks. Total profits on both investments = $2460.
How much of the $30k did he invest in bo
Algebra ->
Finance
-> SOLUTION: John invested $30k in various stocks & bonds. He earned 6% on his bonds
and 12% on his stocks. Total profits on both investments = $2460.
How much of the $30k did he invest in bo
Log On
Question 1107249: John invested $30k in various stocks & bonds. He earned 6% on his bonds
and 12% on his stocks. Total profits on both investments = $2460.
How much of the $30k did he invest in bonds??? Answer by ikleyn(52781) (Show Source):
interest + interest = total interest
on bonds on stocks
0.06*B + 0.12*(30000-B) = 2460.
Simplify and solve for B.
0.06*B + 3600 - 0.12*B = 2460
-0.06*B = 2460 - 3600 = -1140 ====> B = = 19000.
Answer. $19000 was invested in bonds.
