What is the final product?
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1 answer:
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Answer:
Final answer is $4440.
Step-by-step explanation:
Let amount of money invested in 8% stock = x
Let amount of money invested in 6% stock = y
then total money invested $325.6 gives equation
8% of x + 6% of y = 325.6
0.08x + 0.06y = 325.6
8x + 6y = 32560...(i)
other equation will be x=2y...(ii)
plug (ii) into (i)
8x + 6y = 32560
8(2y) + 6y = 32560
16y+ 6y = 32560
22y = 32560
y=1480
plug y=1480 into (ii)
x=2y=2(1480)=2960
Then total money invested in stocks = x+y= 1480+2960=4440
Hence final answer is $4440.