Question 163011
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Let {{{x}}}= invt. in stocks
So, {{{6000-x}}}= invt. in bonds
Putting into eqn, (assuming money return-interest per year)
{{{0.06x+0.11(6000-x)=580}}}
{{{0.06x+660-0.11x=580}}}
{{{660-580=0.11x-0.06x}}}
{{{80=0.05x}}} ----------> {{{cross(80)1600/cross(0.05)=cross(0.05)x/cross(0.05)}}}
{{{highlight(x=1600)}}}, money invested in stocks
{{{6000-1600=highlight(4400)}}}, money invested in bonds
Check,
{{{0.06(1600)+0.11(4400)=580}}}
{{{96+484=580}}}
{{{580=580}}}
It make sense to invest in bonds because it has higher interest, right?
Thank you,
Jojo</pre>