Problem: 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:
Answer Choices:
A. 6%
B. 6.1%
C. 6.2%
D. 6.3%
E. 6.4%
Solution:
201​⋅4000+251​⋅3500+100x​⋅2500=500,25x=160,x=6.4.