(a)A financial planner wants to invest $8000, some stocksearning 15% annually an

Question

(a)A financial planner wants to invest $8000, some stocksearning 15% annually and the rest in bonds earning 6% annually. Howmuch should be invested at each rate to get a return of $930annually from the two investments? (b) Marcia flew her ultralight plane to a nearby town againsta head wind of 15 km/h in 2 h 20 min. The return trip under thesame wind conditions took 1 h 24 min. Find the plane's air speedand the distance to the nearby town. (a)A financial planner wants to invest $8000, some stocksearning 15% annually and the rest in bonds earning 6% annually. Howmuch should be invested at each rate to get a return of $930annually from the two investments? (b) Marcia flew her ultralight plane to a nearby town againsta head wind of 15 km/h in 2 h 20 min. The return trip under thesame wind conditions took 1 h 24 min. Find the plane's air speedand the distance to the nearby town.

Explanation / Answer

part a suppose he invest x in stock and y in bonds so as given stocks earning is 15 % annually so if he invest $100 he will get $ 15 back after a year similarly if he invest $ x he will get $ (0.15x ) after a year similarly as he is investing $ y in bond he will get $ (0.06y)after a year so total return he have after a year = (0.15x)+(0.06y) $ = 930 writing mathematically 15x + 6y = 93000 now as we see he invest $ 8000 so x+y =8000 so we have two equation 15x+6y = 93000 x+y =8000 solving them simulataneously we get x = 5000 $ investment in stocks y = 3000 $ investment in bonds

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