Ask a question

invest $3000 more in stocks than bonds. Stocks pay 8% interest bonds 9.5% interest total interest received on both investments

Can not understand how to get answer with this formula

Total interest earned = 9.5%x+8%(x+3000)

1 Answer by Expert Tutors

Tutors, sign in to answer this question.
Kurt T. | Math Tutoring and Test PrepMath Tutoring and Test Prep
4.9 4.9 (121 lesson ratings) (121)

You can't answer this question without knowing x or the total amount invested (2x + 3000).