|
Question 1197623: Brian has half of his investments in stock paying a 7% dividend and the other half in a stock paying 13% interest. If his total annual interest is $730, how much does he have invested?
Found 3 solutions by ikleyn, greenestamps, MathTherapy:
Answer by ikleyn(52879)   (Show Source):
You can put this solution on YOUR website! .
Brian has half of his investments in stock paying a 7% dividend
and the other half in a stock paying 13% interest.
If his total annual interest is $730, how much does he have invested?
~~~~~~~~~~~~~~~~
Let x be that half, which is invested at 7%.
Then the otherr half is an equal amount of money.
In a year, first half produces interest of 0.07x dollars.
The other half produces an interest of 0.13x dollars in a year.
Both halves produce the total annual 0.7x+0.13x = 0.2x.
We are given that
0.2x = 730 dollars.
Hence, x = 730/0.2 = 7300/2 = 3650.
Thus one half of the invested amount (each half) is 3650 dollars
and the total invested amount is 2*3650 = 7300 dollars. ANSWER
CHECK. 0.07*3650 + 0.13*3650 = 730 dollars, total annual interest. ! correct !
Solved.
Answer by greenestamps(13209)  (Show Source):
You can put this solution on YOUR website!
If the amounts invested at 7% and 13% are equal, then the average rate of return is 10%. So
730 = 0.10(x)
x=7300
ANSWER: $7300
CHECK: .07(3650)+.13(3650)=.20(3650)=730
Answer by MathTherapy(10556)  (Show Source):
You can put this solution on YOUR website! Brian has half of his investments in stock paying a 7% dividend and the other half in a stock paying 13% interest. If his total annual interest is $730, how much does he have invested?
Let amount invested be A
Then amount invested at 7% and 13% is .5A
We then get: .07(.5A) + .13(.5A) = 730
.035A + .065A = 730
.1A = 730
Amount invested, or 
|
|
|
| |
