A financial planner wants to invest $8000, some in stocks earning 15% annually and the rest in bonds earning 6% annually. How much should be invested at each rate to get a return of $930 annually from the two investments? (Hint: Let x = the amount, in dollars, invested at 15%, and let y = the amount, in dollars, invested at 6%.)

Question

Guest

Mathematics

17 October, 08:28

A financial planner wants to invest $8000, some in stocks earning 15% annually and the rest in bonds earning 6% annually. How much should be invested at each rate to get a return of $930 annually from the two investments? (Hint: Let x = the amount, in dollars, invested at 15%, and let y = the amount, in dollars, invested at 6%.)

+2

Answers (1)

Know the Answer?

Zaria · Answer 1

{0.15x+0.06y=930 / / * 20

{x+y=8000 / / * 3

{3x+1.2y=18600

-

{3x+3y=24000

-1.8y=-5400

y=3000

x=8000-3000=5000

Planner need to invest $5000 with 15% rate and $3000 with 6% rate