SOLUTION: Harold invested $30,000 in various stocks and bonds. He earned 6% on his bonds and 12% on his stocks. If Harold's total profit on both types of investments was $2,460, how much of

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Question 180101This question is from textbook Algebra 1 Teaching Textbook
: Harold invested $30,000 in various stocks and bonds. He earned 6% on his bonds and 12% on his stocks. If Harold's total profit on both types of investments was $2,460, how much of the $30,000 did he invest in bonds? This question is from textbook Algebra 1 Teaching Textbook

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.06b+.12(30,000-b)=2,460
.06b+3600-.12b=2460
.06b=2460-3600
-.06b=-1140
b=-1140/-.06
b=19,000 is the amount invested @ 06% in bonds.
Proof:
.06*19,000+.12(30,000-19,000)=2460
1140+.12*1,100=2,460
1,140+1,320=2460
2,460=2,460