Omar has invested a fraction 3/13 of his savings in an account that pays an annual interest rate of 2%, a fraction 5/22 in an account that pays an annual interest rate of 9%, and the rest in an account that pays an annual interest rate of 15%. What average return (in percentage terms) does Omar get on his total investment? If he earned $920 in interest, how much did he invest in each account?
Omar has invested a fraction 3/13 of his savings in an account that pays an annual interest rate of 2%, a fraction 5/22 in an account that pays an annual interest rate of 9%, and the rest in an account that pays an annual interest rate of 15%. What average return (in percentage terms) does Omar get on his total investment? If he earned $920 in interest, how much did he invest in each account?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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