Problema Solution
Jessica has half of her investment in stock paying a 9% divined and the other half in a stock paying 11% interest. If her total annual interest is $680, how much does she have invested in each and total?
Answer provided by our tutors
Let 'n' stand for the total amount that Jessica has invested. From the given information, we can write:
.09(.5n)+.11(.5n)=680
Using Algebrator to solve for n, we get:
n=6800
This means that '.5n' or $3400 is invested in each stock.