You have already invested $550 in a stock with an annual return of 11%. How much of an additional $1,400 should be invested at 12% and how much at 6% so that the total return on the entire $1,950 is 9%? (Round each answer to the nearest cent.)

Question

helder_edwin · Answer

Let x the amount invested at 12% and y at 6% then solve
$$ \large \begin{cases}
                 x+y=1400\ .12x+.06y+550\times.11=1950\times.09
              \end{cases} $$

anonymous · Answer

Do you substitute?

helder_edwin · Answer

solve it the way u feel more comfortable with.

helder_edwin · Answer

though the easiest would be substitution.

anonymous · Answer

Ok thank you

helder_edwin · Answer

u r welcome