Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
Heather needs to invest $3,300 in first investment and $3,900 in the second investment in order to earn a return of $513
What proportion of investments in each should we start with?
Best guess implies that we first of all try $3,000 in the first investment and the remaining $3,900 in the second investment, such that we increase the amount in the first investment with $150 each time
However, we need to derive the total return formula first and foremost, remember algebraic solution is not required
Total return=(first investment*9%)+(second investment*6%)
$3,000 and $3,900:
Total return=(9%*$3000)+(6%*$3900)
Total return=$504
$3,150 and $3,750
Total return=(9%*$3150)+(6%*$3750)
Total return=$508.50
$3,300 and $3,600:
Total return=(9%($3300)+(6%*$3600)
total return=$513
Find an algebraic approach on:https://brainly.com/question/28410187
#SPJ1
Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.
