Question

Lily has two times as much money invested in 8% stocks as she has in bonds paying 6%. How much she has invested in stocks​ if her annual income from stocks and bonds is $325.6?

Answer 1

Answer:

$2960

Step-by-step explanation:

Lily has two times as much money invested in 8% stocks,

As she has in bonds paying 6%

Let the money invested in 8% stocks be 2x dollars,

The money in bonds paying 6% is then x dollars.

So, $2x($\frac{8}{100}$) + $x($\frac{6}{100}$) = $325.6

$0.16x + $0.06x = $325.6

$0.22x = $325.6

x = $1480

The money she has invested in stocks is 2x = 2 × $1480 = $2960