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Question 825227: Wei has three types of shares: A, B and C. A shares pay 8%, B shares pay 6% and C shares pay 11% dividends. Wei has twice as much invested in B shares as A shares, and has 50000 invested altogether. The yearly return from the share dividends is $4850. How much is invested in each type of share❔
THANKS 😄
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Wei has three types of shares:
A, B and C. A shares pay 8%, B shares pay 6% and C shares pay 11% dividends.
Wei has twice as much invested in B shares as A shares,
and has 50000 invested altogether.
The yearly return from the share dividends is $4850.
How much is invested in each type of share.
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Equations:
Quantity:: a + b + c = 50000
Interest::8a + 6b + 11c = 485000
Quantity:: b = 2a
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a + b + c = 5000
8a+6b +11c = 485000
2a-b + 0 = 0
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I used my TI-84 to get:
a = $5000
b = $10,000
c = $35,000
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Cheers,
Stan H.
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