Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
More on investing You have $20, 000 for investment. You will invest
a. The dollar amount of total return is
b. Write a system of two equations in two unknowns that determines how much will be invested in each category. (Suggestion: One equation should show the total amount invested. The equation should show the total dollar return.)
c. Solve the system from part b to find the amount invested in stocks and the amount invested in bonds.
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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
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