Problem

Solve the applied problem.You have already invested $550 in a stock with an annual return...

Solve the applied problem.

You have already invested $550 in a stock with an annual return of 11%. How much of an additional $1100 should be invested at 12% and how much at 6% so that the total return on the entire $1650 is 9%?

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Solutions For Problems in Chapter 2.3