SOLUTION: Harold invested $30,000 He earns 6% on bonds He earns 12% on stocks Total profit on both stocks and bonds is $2,460 How much of the $30,000 did he invest in bonds?

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Question 891018: Harold invested $30,000
He earns 6% on bonds
He earns 12% on stocks
Total profit on both stocks and bonds is $2,460
How much of the $30,000 did he invest in bonds?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Harold invested $30,000
He earns 6% on bonds
He earns 12% on stocks
Total profit on both stocks and bonds is $2,460
How much of the $30,000 did he invest in bonds?
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Quantity:: b + s = 30,000
Interest::0.06b + 0.12s = 2460
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Modify::
b + s = 30,000
b + 2s = 41000
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Solve for "s":
s = $11,000
b = $19,000 (amt. invested in bonds)
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Cheers,
Stan H.
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