Answer:
$800
Step-by-step explanation:
Based on the question, annual interest rate ($96) is equal to
bond price*0.06 + stock price*0.09
where bond price = 1200 - stock price
hence,
(1200 - stock price)*0.06 + stock price*0.09 = 96
1200*0.06 - stock price*0.06 + stock price*0.09 = 96
72 - stock price*0.06 + stock price*0.09 = 96
stock price*0.09 - stock price*0.06 = 96 - 72
stock price(0.09 - 0.06) = 24
stock price = 24/0.03
stock price = 800
