Question

You have already invested $400 in a stock with an annual return of 11%. How much of an additional $1,600 should be invested at 12% and how much at 6% so that the total return on the entire $2,000 is 9%?

Answer 1

Let
x = amount invested at 12% , y = amount invested at 6%

x + y = 1600
.12x + .06y + .11*400= .09 * 2000

Answer 2

whats the answer