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Question 941719: Dr. D. Jones has a total of $3000 invested in two stocks. Stock A pays dividends at the rate of 6% and Stock B at the rate of 8%. If her dividends from the two stocks total $220 per year, how much did she invest in each stock?
Stock A , Stock B
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Dr. D. Jones has a total of $3000 invested in two stocks. Stock A pays dividends at the rate of 6% and Stock B at the rate of 8%. If her dividends from the two stocks total $220 per year, how much did she invest in each stock?
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Equations:
Quantity:: A + B = 3000 dollars
Interest:: 0.06A + 0.08B = 220
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Modify for elimination::
6A + 6B = 6*3000
6a + 8B = 22000
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Subtract and solve for "B"::
2B = 4000
B = $2000 (amt. invested at 8%)
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A = 3000-2000 = $1000 (invested at 6%)
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Cheers,
Stan H.
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