Concept explainers
To find: The amount of money that is invested in bounds.
Answer to Problem 2OE
The amount of money invested in the bounds is
Explanation of Solution
Given:
Thetotal money invested is
The interest of the stocks is
The interest of the bonds is
The annual income from the stocks and the bounds is
Calculation:
Consider the stocks is
Consider the equation for the total income after the interest rate is,
Then,
Consider the money on stock is,
Chapter 9 Solutions
Algebra: Structure And Method, Book 1
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