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

Final answer is $4440.

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=(32560)/(22)`

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.