SOLUTION: Please help me solve this.
An investment of $11,050 is divided into two accounts, one for stocks and one for mutual funds. The value of the stock account is $1,700 less than
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An investment of $11,050 is divided into two accounts, one for stocks and one for mutual funds. The value of the stock account is $1,700 less than
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Question 712610: Please help me solve this.
An investment of $11,050 is divided into two accounts, one for stocks and one for mutual funds. The value of the stock account is $1,700 less than twice the value of the mutual fund account. Find the amount in the stock account.
I do appreciate any help you could offer! Thank you for your time! Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website! An investment of $11,050 is divided into two accounts, one for stocks and one for mutual funds. The value of the stock account is $1,700 less than twice the value of the mutual fund account. Find the amount in the stock account.
.
Let x = amount ($) of stock account
then
11050-x = amount ($) in mutual funds
.
From:"The value of the stock account is $1,700 less than twice the value of the mutual fund account." we get our equation:
x = 2(11050-x) - 1700
x = 22100-2x - 1700
3x = 22100 - 1700
3x = 20400
x = $6800
