Question

Katie invested a total of $2,000 in stocks and bonds. This year the bonds paid 8%

interest, and the stocks paid 6% in dividends. Katie received a total of $144 in interest
and dividends. How much money did she invest in stocks and bonds?
A. stocks $800; bonds = $1,200
B. stocks = $1,200; bonds = $800
C. stocks = $1,400; bonds = $600
D. stocks = $600; bonds = $1,400

Answer 1

Answer:
A. stocks $800; bonds = $1,200.

Explanation:

X = the amount invested in stocks
(2000 - X) = the amount invested in bonds

0.06X + 0.08(2000 - X) = 144

0.06X + 160 - 0.08X = 144

-0.02X = -16

X = 800