SOLUTION: Fred recieved an inheritance of $13,500. He wishes to divide the amount between investments at 15% and 12% to receive an average return on both investments of 13%. How much should

SOLUTION: Fred recieved an inheritance of $13,500. He wishes to divide the amount between investments at 15% and 12% to receive an average return on both investments of 13%. How much should

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Question 898114: Fred recieved an inheritance of $13,500. He wishes to divide the amount between investments at 15% and 12% to receive an average return on both investments of 13%. How much should he invest at each rate?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
Hi,
.15x + .12(13500-x) = .13(13500
x = .01(135000 )/.03
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