Mathematics
How much was invested at each rate?

Question Description

You invested $6000 in two stocks paying 9% and 6% annial interest, respectively. At the end of the year, the total interest from these investments was $480. How much was invested a each rate?

Final Answer

let the amount invested in first stock is $x and second stock is $(6000-x)

x*9*1/100 + (6000-x)*6*1/100 = 480

9x/100 + (36000-6x)/100 = 480

(9x + 36000 - 6x)/100 = 480

9x+36000-6x = 480*100

3x+36000=48000

3x=48000-36000

3x = 12000

x = 4000

first stock = $4000

second stock = 6000-4000 = $2000

whgrab (11416)
Boston College

Anonymous
Top quality work from this tutor! I’ll be back!

Anonymous
Just what I needed… fantastic!

Anonymous
Use Studypool every time I am stuck with an assignment I need guidance.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors