SOLUTION: A man has 2/3 of his portfolio invested at 12%, 1/4 at 15% and the remainder at 6%. How much is his portfolio valued if his annual income is $3,675?

Question 260867: A man has 2/3 of his portfolio invested at 12%, 1/4 at 15% and the remainder at 6%. How much is his portfolio valued if his annual income is $3,675?
Found 2 solutions by drk, checkley77:
Answer by drk(1908) (Show Source): You can put this solution on YOUR website!
2/3 of his portfolio invested at 12%,
1/4 at 15%,
remainder at 6%
annual income = $3,675.
---
step 1 - solve for the remainder by first adding fractions as

step 2 - subtracting 11/12, we get

--
we have a variation of I = PRT.

step 3 - combine like terms on the right to get

step 4 - divide by .1225 to get

HIs portfolio was valued at $30,000
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.12*2x/3+.15*x/4+.73*x*.06=3,675
.24x/3+.15x/4+.0438x=3,675
(.24x*4+.15x*3+.0438x*12)/12=3,675
(.96x+.45x+.5256x)/12=3,675
1.9356x/12=3,675
.1613x=3,675
x=3,675/.1613
x=$22,783.63 ans. for the portfolio amount.

RELATED QUESTIONS
A man has invested $8000, part of 10% and the remainder at 6% simple interest. how much... (answered by mananth)
Convert each given fraction, decimal, or percent into its other two forms 5/8... (answered by checkley71)
A man invested half his money at 5%, 1/3 of his money at 4% and the rest at 3.5%. If his... (answered by josmiceli)
A man invested part of Php 15,000 at 12 percent and the remainder at 8 percent. If his... (answered by mananth)
A man invested part of $15,000 at 12% and the remainder at 8%. If his annual income from (answered by mananth,MathTherapy,greenestamps)
A man invests 1/3 of his capital at 3% and the remainder at 4%. What is his capital if... (answered by MathLover1)
A man has P1000 invested part of 5% and his remainder at 3% simple interest. The total... (answered by rushdi1987)
A retiree divides his pension portfolio of $270,000 between a conservative mutual fund... (answered by Earlsdon)
A man invests 1/3 of his capital at 3% and the remainder at 4%. What is the capital if... (answered by josmiceli)