Question 581475: I am having a bit of trouble with this - any help would be appreciated-
Last year, Elaine's investment earnings were: $13,000 She had three types of investments: Stocks, Bonds, and Mutual Funds. Her stocks paid a return of 10% while her mutual funds paid a return of 6% and her bonds paid a return of 2%. If Elaine invested 25% of her money in stocks, 25% of her money in mutual funds and 50% of her money in bonds, then... how much did she invest in Stock? how much did she invest in Mutual Funds? how much did she invest in Bonds?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Last year, Elaine's investment earnings were: $13,000
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She had three types of investments: Stocks, Bonds, and Mutual Funds.
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Her stocks paid a return of 10% while her mutual funds paid a return of 6% and her bonds paid a return of 2%.
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If Elaine invested 25% of her money in stocks, 25% of her money in mutual funds and 50% of her money in bonds, then... how much did she invest in Stock? how much did she invest in Mutual Funds? how much did she invest in Bonds?
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Let her total investment be "x":
stocks = 0.25x
mut fds = 0.25x
bonds = 0.50x
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interest + interest + interest = interest
0.10(0.25x) + 0.06(0.25x) + 0.02(0.50x) = 13000
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Multiply thru by 10,000 to get:
10*25x + 6*25x + 2*50x = 130000000
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250x + 125x + 100x = 130000000
475x = 130000000
x = 273,684.21
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stocks = 0.25x = 68,421.05
mut fds = 0.25x = 68,421.05
bonds = 0.50x = 136,842.11
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cheers,
Stan H.
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