I have tried to work this problem a number of time. And given that i suck at math, I cant seem to get the right answer.. no matter how many different equations i try.
Problem:
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 had he invested?
I need help getting the equation. The back of my book says the answer is $12,000.
Problem:
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 had he invested?
I need help getting the equation. The back of my book says the answer is $12,000.