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
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