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Math Help - Interest Rate Help

  1. #1
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    Interest Rate Help

    Hello Everyone,

    Can someone please tell me if the following is correct?


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  2. #2
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    I'm a little troubled why you bothered to turn the values into percents. What would you do if it was $150,000 and there was another $50,000 @ 15%?
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  3. #3
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    Hi there,

    It happened to be convenient since the total was 100 k.
    Can someone confirm if the final answer is correct?
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  4. #4
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    i haven't checked your arithmatic but the sum you wrote down will give the right answer. (but only in this case as TKhunny pointed out)
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  5. #5
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    thank you sir.
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  6. #6
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    I just have to struggle with this. Which part did you do incorrectly on purpose! A very. very large part of success is personal confidence. Learn the facts. Execute a rational algorithm. Know what you are doing on each step along the way. Check you work. Move on. (You may wish to pay up you E&O Insurance)

    More generally: \frac{30(0.30) + 20(0.25) + 50(0.20)}{30 + 20 + 50}

    The percentages can take care of themselves.
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