SOLUTION: charels invested 15000 in in stocks and bonds. he made a 12% on his stock investments and 5% on his bind investments. if charles combines both profits of both investments and was $
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Question 1097396: charels invested 15000 in in stocks and bonds. he made a 12% on his stock investments and 5% on his bind investments. if charles combines both profits of both investments and was $1450 how much did he invest in his stock Answer by greenestamps(13203) (Show Source):
You can put this solution on YOUR website! I'll let another tutor supply a standard algebraic solution. Following is the way I work problems like this, in far less time and with far less effort than the algebraic process.
If all $15000 were invested at 12%, his return would be $1800; if all were invested at 5%, his return would be $750.
The actual return was $1450.
The actual return is 2/3 of the way from $750 to $1800:
That means 2/3 of the $15000 must be invested at 12% and 1/3 at 5%.
2/3 of $15000 is $10000, invested at 12%;
1/3 of $15000 is $5000, invested at 5%
