A small construction company has $170,000 set aside in a capital improvement fund to purchase new equipment.
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Question:
A small construction company has $170,000 set aside in a capital improvement fund to purchase new equipment. If $16,000 is invested at 28%, $30,000 at 15%, and the remaining $124,000 at 23% per year, what is the overall rate of return on the entire $170,000?
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