Part of $6,000 Is Invested at 9%, Another Part at 11

question 11

Multiple Choice

Part of $6,000 is invested at 9%, another part at 11%, and the remainder at 12% yearly interest. The total yearly income from the three investments is $650. The sum of the amounts invested at 9% and 11% equals the amount invested at 12%. How much is invested at each rate?

• A) $2,000 at 9%, $1,000 at 11%, and $3,000 at 12%
• B) $1,500 at 9%, $0 at 11%, and $3,500 at 12%
• C) $3,000 at 9%, $0 at 11%, and $3,000 at 12%
• D) $1,500 at 9%, $1,000 at 11%, and $3,500 at 12%
• E) $2,500 at 9%, $2,000 at 11%, and $2,000 at 12%

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Definitions:

Goodwill Impairment

An accounting charge that occurs when the market value of goodwill is less than its recorded value on the balance sheet.

Plant and Equipment

Long-term tangible assets used in the operations of a business to produce goods and services, such as machinery, buildings, and vehicles.

Exchange Gain/Loss

The gain or loss resulting from changes in exchange rates affecting foreign currency transactions.

Exchange Rates

A measurement of the value of one currency expressed in terms of another currency.