SOLUTION: Oh boy, I'm stumped as to how to proceed. We're working with systems of equations right now and this problem is really starting to tax my patience. "$24000 is invested in three d

Question 864755: Oh boy, I'm stumped as to how to proceed. We're working with systems of equations right now and this problem is really starting to tax my patience.
"$24000 is invested in three different accounts, each paying 1%, 2%, and 3% interest, respectively. After 1 year, the simple interest earned from all three accounts amounts to $440. If the account paying 1% interest contains three times the amount in the account paying 2% interest, how much was invested in the three accounts?"
Specifically, I don't know how to set this information up as a system of equations. Since there are three accounts, I think this should be a 3x3 equation, but I've only been able to come up with
x+y+z=24000, and (.01)x+(.02)y+(.03)z=440

Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
You are right normally we need three equations for three unknowns.
Let's see what we know and how we can use that info
"$24000 is invested in three different accounts
x+y+z=24000,
each paying 1%, 2%, and 3% interest, respectively.
After 1 year, the simple interest earned from all three accounts amounts to $440.
(.01)x+(.02)y+(.03)z=440
If the account paying 1% interest contains three times the amount in the account paying 2% interest,
You forgot this tidbit.
x=3y,
(.01)x+(.02)y+(.03)z=440,
x+y+z=24000
Sometimes you really have to squeeze info to get the three equations. Here you missed a treasure
x=12000., y=4000., z=8000.
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