SOLUTION: Yolanda invests $6,000. Some of the money is invested in stocks paying 6% a year and some in bonds paying 11% a year. She receives a total of $580 each year from these investment

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Question 163011: Yolanda invests $6,000. Some of the money is invested in stocks paying 6% a year and some in bonds paying 11% a year. She receives a total of $580 each year from these investments. How much money is invested in stocks and how much money in bonds?
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!

Let x= invt. in stocks
So, 6000-x= invt. in bonds
Putting into eqn, (assuming money return-interest per year)
0.06x%2B0.11%286000-x%29=580
0.06x%2B660-0.11x=580
660-580=0.11x-0.06x
80=0.05x ----------> cross%2880%291600%2Fcross%280.05%29=cross%280.05%29x%2Fcross%280.05%29
highlight%28x=1600%29, money invested in stocks
6000-1600=highlight%284400%29, money invested in bonds
Check,
0.06%281600%29%2B0.11%284400%29=580
96%2B484=580
580=580
It make sense to invest in bonds because it has higher interest, right?
Thank you,
Jojo