Problema Solution
The Lees invested two thirds of their money at 12.5%, one fourth at 8% and the rest at 6%. If their annual investment income is $1625, how much did they invest at each rate?
Answer provided by our tutors
0.125(2/3x) + 0.08(1/4)x + 0.06(1/12)x = 1625
find x
x = 15000
they invested 10,000 at 12.5%
they invested 3750 at 8%
and they invested 1250 at 6%