00:01
Leticia is investing in two different stocks, one that increases by 10 % and one that increases by 14%.
00:10
If she has $10 ,000 to invest and wants to gain exactly $1 ,260 in interest, how much does she have to invest in each stock? as usual, with problems like this that asks you to find a value of a certain quantity that gives a certain result, we assign a variable to the quantity that we want to find.
00:42
And so since we want to find the amount invested in the 10 % stock and the amount invested in the 14 % stock, which are actually numbers that are related as we'll see, let's assign the variable x to the amount invested in the 10 % stock.
01:01
Now, since $10 ,000 are going to be invested altogether, the rest of the money is going to be invested in the 14 % stock.
01:12
And so that tells us that that amount is x less than 10 ,000, just the rest of the 10 ,000.
01:23
And so the interest gained from the x dollars invested in this stock is going to be 10 % of that amount investing.
01:34
The interest gained in the other stock is 14 % of the amount invested in that stock.
01:47
Now again, with this type of problem, once we have our variable that represents the quantity we want to find, we have to make an equation that involves that variable that we can solve...