SOLUTION: john has twice as much money invested in stocks as in bonds. Stocks earn 8% interest each year per bond 2% per year. If john earned a total of $400 from his stocks and bonds last y

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Question 425923: john has twice as much money invested in stocks as in bonds. Stocks earn 8% interest each year per bond 2% per year. If john earned a total of $400 from his stocks and bonds last year how much money did he have invested in stocks
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Bonds 2.00% per annum
Stocks 8.00% per annum
Interest----- $400.00

2.00% x + 8.00% * 2x
2 x + 8 * 2x
2 x + 16 x = $40,000
18 x = $40,000.00
/ 18
x= $2,222.22--- Bonds
2x =$4,444.44 Stocks