Problema Solution
dave horn invested half of his money at 5%, one-third of his money at 4%, and the rest of his money at 3.5%. if his total annual investment income was $530, how much did he invested?
Answer provided by our tutors
let total money invested be x
percent
5 0.33
4 0.50x
3.5 0.17x
Total income = 530
1.67 x + 2 x +
4.25 x 53000/ 4.25
x = 12470.59
Interest
5.00%---------- 4156.86
4.00%---------- 6235.29
3.50%---------- 2078.43