Problem

Brian has half of his investments in stock paying a $10 \%$ dividend and the other half in a stock paying $14 \%$ interest. If his total annual interest is $\$ 780$, how much does he have invested? Answer How to enter your answer (opens in new window) Keypad Keyboard Shortcuts \$ in each $\$$ total Submit Answer

Solution

Step 1 :Let's denote the total amount Brian has invested as x. Then, half of his investments would be 0.5x. The total annual interest from the 10% dividend stock would be 0.10 * 0.5x and from the 14% interest stock would be 0.14 * 0.5x. The sum of these two amounts is equal to $780.

Step 2 :So, we have the equation: 0.10 * 0.5x + 0.14 * 0.5x = 780.

Step 3 :We can solve this equation to find the value of x, which is the total amount Brian has invested.

Step 4 :The solution to the equation is 6500. This means that Brian has $6500 invested in total.

Step 5 :Final Answer: The total amount Brian has invested is \(\boxed{6500}\).

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Source: https://solvelyapp.com/problems/lwfBqxzFj3/

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