Answer:
- bonds: $18,000
- stocks: $6,000
Step-by-step explanation:
You have a total of $24,000 invested in stocks and bonds in the ratio 1 : 3. You want to know the amount invested in each category.
<h3>Ratio</h3>
Recognizing that the total number of ratio units is 1+3 = 4, and that total represents $24,000, we see that each ratio unit represents $24,000/4 = $6,000.
Multiplying the ratio by $6,000, we see the investment amounts are ...
stocks : bonds = 1 : 3 = $6,000 : $18,000
$6,000 is invested in stocks; $18,000 is invested in bonds.
