SOLUTION: A financial planner wants to invest $8000, some in stock earning 15% annually and the rest in bonds earning 6% annually. How much should be invested at each rate to get a return of

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A financial planner wants to invest $8000, some in stock earning 15% annually and the rest in bonds earning 6% annually. How much should be invested at each rate to get a return of      Log On


   

Question 264270: A financial planner wants to invest $8000, some in stock 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?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.15x+.06(8,000-x)=930
.15x+480-.06x=930
.09x=930-480
.09x=450
x=450/.09
x=5,000 invested @ 15%.
8,000-5,000=3,000 invested @ 6%
Proof:
.15*5,000+.06*3,000=930
750+180=930
930=930