Algebra Word Problem
I'm loth to give up on the one math problem that hasn't gotten answered practically the second I post it. So, I've changed my policy and this one will remain up this week as well.
The management of a private investment club has a fund of $200,000 earmarked for investment in stocks and bonds. To arrive at an acceptable overall level of risk, the stocks have been classified into three categories: high risk, medium risk, and low risk. Management estimates that high-risk stocks will return 15 percent; medium risk stocks, 10 percent; low risk stocks, 6 percent. The investment in low risk stocks is to be twice the sum of the investments in stocks of the other two categories. If the investment goal is to have an average return of 9 percent on the total investment, determine how much money the club should invest in each type of stock.
Note: re-posted from my old OO.net blog
The management of a private investment club has a fund of $200,000 earmarked for investment in stocks and bonds. To arrive at an acceptable overall level of risk, the stocks have been classified into three categories: high risk, medium risk, and low risk. Management estimates that high-risk stocks will return 15 percent; medium risk stocks, 10 percent; low risk stocks, 6 percent. The investment in low risk stocks is to be twice the sum of the investments in stocks of the other two categories. If the investment goal is to have an average return of 9 percent on the total investment, determine how much money the club should invest in each type of stock.
Note: re-posted from my old OO.net blog