A man has $ 10,000 to invest, Mathematics question help

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Mathematics

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5. A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 at 4 %. In order to have a yearly income of $ 500, he must invest the remainder at:

(a) 6 % , (b) 6.1 %, (c) 6.2 %, (d) 6.3 %, (e) 6.4 %

solve this question step by step .

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Explanation & Answer

answer is 6.4details are in enclosure

5. A man has $ 10,000 to invest. He invests $ 4000 at 5 % and $ 3500 ...


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