Investments. Dave Horn invested half of his money at 5%, one-third of his money at 4%, and the rest of his money at 3.5%. If his total annual investment income was $530, how much had he invested?

Can someone please help me find out how much Dave Horn invested...?

Question

Investments.  Dave Horn invested half of his money at 5%, one-third of his money at 4%, and the rest of his money at 3.5%.  If his total annual investment income was $530, how much had he invested?

Can someone please help me find out how much Dave Horn invested...?

anonymous · Answer

you can determine the average interest like so

1/2 money *5% + 1/3 money*4% + rest*3.5%

The "rest" is whatever remains from the whole (1), so it is:
1 - 0.5-0.333 = 0.167