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?

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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.
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step 1 - solve for the remainder by first adding fractions as

step 2 - subtracting 11/12, we get

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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.