SOLUTION: you invest 1200 dollars in stock and bonds the stock pays 9% interest and the bonds pay 6% interest if the total annual interest is 96 much is invested in the stock alone dollars h
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Question 550179: you invest 1200 dollars in stock and bonds the stock pays 9% interest and the bonds pay 6% interest if the total annual interest is 96 much is invested in the stock alone dollars how
You can put this solution on YOUR website! you invest 1200 dollars in stock and bonds the stock pays 9% interest and the bonds pay 6% interest if the total annual interest is 96 much is invested in the stock alone dollars how
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Equation:
Quantity:: s + b = 1200
Interest::0.9s + 0.06b = 96
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Multiply thru the Quantity Eq. by 90
Multiply thru the Interest Eq. by 100
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90s + 90b = 90*1200
90s+ 6b = 9600
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Subtract to get:
84b = 98400
b = $1171.43 (amt. invested in bonds)
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Solve for "s":
s + b = 1200
s + 1171.43 = 1200
s = $28.57 (amt. invested in stocks)
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Cheers,
Stan H.
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