SOLUTION: can you please help me with this word problem? Merlin invested half of his money at 12%,one fourth at 8%,and the rest at 6%.If the total annual income is $570,how much was invested
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Question 943074: can you please help me with this word problem? Merlin invested half of his money at 12%,one fourth at 8%,and the rest at 6%.If the total annual income is $570,how much was invested altogether? Answer by reviewermath(1029) (Show Source):
You can put this solution on YOUR website! Merlin invested half of his money at 12%,one fourth at 8%,and the rest at 6%.If the total annual income is $570,how much was invested altogether?
Solution:
Let x = total amount invested
(0.12)(1/2)(x) + (0.08)(1/4)(x) + (0.06)(1/4)(x) = 570
0.06x + 0.02x + 0.015x = 570
0.095x = 570
x = 570/0.095 = $6000 [Answer]
