SOLUTION: You have already invested $450 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 12% and how much at 6% so that the total return on th
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Question 911346: You have already invested $450 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 12% and how much at 6% so that the total return on the entire $1,650 is 9%? Found 2 solutions by lwsshak3, josmiceli:Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! You have already invested $450 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 12% and how much at 6% so that the total return on the entire $1,650 is 9%?
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let x=amt invested at 12%
1200-x=amt invested at 6%
11%450+12%x+.06(1200-x)=9%*1650
49.50+.12x+72-.06x=148.50
.06x=27
x=450
1200-x=750
$1200 invested at 12%=$450
$1200 invested at 6%=$750
You can put this solution on YOUR website! Let = amount to be invested @ 12%
Let = amount to be invested @ 6%
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$450 should be invested @12%
$750 should be invested @ 6%
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