SOLUTION: Trudy Waterbury, a financial planner, invested a certain amount of money at 9% annual simple interest, twice that amount at 10% annual simple interest, and three times that amount
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Question 115899: Trudy Waterbury, a financial planner, invested a certain amount of money at 9% annual simple interest, twice that amount at 10% annual simple interest, and three times that amount at 11% annual simple interest. Find the amount invested at each rate if her total yearly income from the investments was $2790.
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.09x+.10*2x+.11*3x=2790
.09x+.20x+.33x=2790
.62x=2790
x=2790/.62
x=$4,500 invested @ 9%
2*4,500=9000 invested @ 10%
3*4500=13500 invested @ 11%
proof
.09*4500+.1*9000+.11*13500=2790
405+900+1485=2790
2790=2790
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