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Kim Has $2,200 Invested at 7% Interest and $3,200 at 3

Question 60

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Kim has $2,200 invested at 7% interest and $3,200 at 3% interest. Set up a quantity-rate table. Find the average rate (interest rate) for the table by dividing the sum of the Q  . \text { . } R column by the sum of the quantity column. Round answer to nearest tenth of a percent.


A) 4.6
B) 5.0
C) 3.8
D) 4.2
E) 5.4

Correct Answer:

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