With $60,000 to invest, how much should a broker invest at 11 percent and how much at

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With $60,000 to invest, how much should a broker invest at 11 percent and how much at 15 percent to earn 14 percent on the total investment?

If x = the amount invested at 11 percent, then (60,000 – x) is the amount invested at 15 percent, and the total annual interest y is image text in transcribed

And 60,000 – 15,000 = 45,000 at 15%.

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Schaum S Outline Of Mathematical Methods For Business Economics And Finance

ISBN: 978-1264266876

2nd Edition

Authors: Luis Moises Pena Levano

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Question Posted: Sep 20, 2024 06:02 AM

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With $60,000 to invest, how much should a broker invest at 11 percent and how much at

Question:

y=.11x+.15(60,000 - x) Substituting the desired level of y: 0.14(60,000) = 8400, 8400 .11x+9000.15.x -600 = -0.04.x x=15,000 at 11%

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Schaum S Outline Of Mathematical Methods For Business Economics And Finance

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