Question

suppose you have a total of $4700 to invest in stocks and bonds. you are going to invest x dollars in stocks and y dollars in bonds. suppose stocks earn 4.5% and bonds earn 3% and that combined interest earned from both investments after one year is $180. Write a mathematical expression for the total amount of money invested.

Answer 1

The amount invested in stocks is $2600 and the amount invested in bonds is $2100.

The total sum of money I invested is $4700. I invest x in stocks and y in bonds. This can be represented with this equation:

x + y = 4700 equation 1

The total interest I earned is $180. The interest rate on stocks is 4.5% and the interest rate on bonds is 3%. This can be represented with the equation

0.045x + 0.03y = 180 equation 2

These two equations are simultaneous equations and can be solved using the elimination method.

x + y = 4700 equation 1

0.045x + 0.03y = 180 equation 2

The first step is to multiply equation 1 by 0.045

0.045 + 0.045y = 211.50 equation 3

The second step is to subtract equation 2 from 3

31.50 = 0.015y

Divide both sides by y

y = $2100

To determine the value of x, substitute for x in equation 1

x + $2100 = $4700

x = $4700 - $2100

x = $2600

To learn more about simultaneous equations, please check: brainly.com/question/23589883?referrer=searchResults