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1956 AMC 12 Question 4

AMC12 · 1956 AMC 12

Question 4

A man has $\$10{,}000$ to invest. He invests $\$4{,}000$ at $5\%$ and $\$3{,}500$ at $4\%.$ In order to have a yearly income of $\$500,$ he must invest the remainder at:
  1. $6\%$
  2. $6.1\%$
  3. $6.2\%$
  4. $6.3\%$
  5. $6.4\%$