Concept explainers
To find: The amount invested in each stock.
Answer to Problem 15P
The amount invested in stock A is
Explanation of Solution
Given information:
Total amount invested = $ 5000
Income from stocks = $ 280
Calculation:
Let, the amount invested in stock A be $ x and in stock B be $ y
By question
From equation (1)
Substitute the value of x in equation (2)
Therefore,
Therefore, the amount invested in stock A is
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