5
QuizMultiple Choice

Applications of Equations

Question 5 • (OC27) MATH COLL ALGEBRA-1200710-S1-Degele-VOL7006P

You have already invested $550 in a stock with an annual return of 11%. How much more should be invested at 15% so that the return on the total investment is 12%?

Answer
A
$183.33
B
$266.67
C
$217.56
D
$143.43

Explanation

Let x be the additional amount invested at 15%. The total investment must earn 12%, so 0.11(550) + 0.15x = 0.12(550 + x). Rearranging gives 0.03x = 5.50, so x = $183.33. The additional investment should be $183.33, choice A.

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