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Chapter 2: Q. 115 (page 129)

Laurie has \(46,000 invested in stocks and bonds. The amount invested in stocks is \)8,000 less than three times the amount invested in bonds. How much does Laurie have invested in bonds?

Short Answer

Expert verified

The amount invested by Laurie in bonds is $13,500.

Step by step solution

01

Step. 1 Given information 

The amount invested in stocks and bonds by Laurie is $46,000 .The amount invested in stocks is $8,000 less than three times the amount invested in bonds.

We have to calculate the amount invested in bonds.

02

Step. 2 Concept 

Such type of problems can be solved by writing them in the form of linear equation and then solving them.

03

Step. 3 Calculation 

Let amount invested in bonds = x

Then amount invested in stocks= 3x-8000

As total amount is $46000

x+3x-8000=460004x-8000=46000Add8000inbothsides4x-8000+8000=46000+80004x=54000Dividingby44x4=540004x=13500

So amount invested in bonds by Laurie is $13500

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