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Musya8 [376]
3 years ago
6

You have already invested $400 in a stock with an annual return of 11%. How much of an additional $1,200 should be invested at 1

2% and how much at 6% so that the total return on the entire $1,600 is 9%? (Round each answer to the nearest cent.)
Mathematics
1 answer:
notka56 [123]3 years ago
5 0
<span>The annual return on $400 in stock is 0.11*400 = $44
</span>

The total return you want is 0.09 * 1600 = $144

Let a be the amount invested at 12% and b be the amount invested at 6% 

0.12a + 0.06b = 144 - 44

12a + 6b = 10000

a + b = 1200

Put those 2 equations together and solve for a and b: 

12a + 6b = 10000 

a + b = 1200

Using elimination, a = $466.67 and b = $733.33

<span>So, out of an additional $1200, invest $466.67 at a rate of 12% and $733.33 at a rate of 6%</span>

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NARA [144]

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5/8, 5:8, or 5 to 8

Step-by-step explanation:

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5 0
3 years ago
Read 2 more answers
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10. Sally wants to buy a bicycle that costs $285. The bicycle is on sale for 15% off. How much
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