SOLUTION: Kevin has half of his investments in stock paying a 6% dividend and the other half in a stock paying 12% interest. If his total annual interest is $630, how much does he have inves
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Question 1178247: Kevin has half of his investments in stock paying a 6% dividend and the other half in a stock paying 12% interest. If his total annual interest is $630, how much does he have invested? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! let total investment be x
x/2 @ 6% ------0.06
x/2 @12 -------0.12
Total interest = 630
0.06x/2 + 0.12x/2 = 630
0.03x +0.06x = 630
0.09x = 630
x = 630*100/9 = 7000
Total investment = 7000
$ 3500 in each of them
