SOLUTION: Jorge minez has a total of $40,000 invested in three different accounts. He has some money invested in one account that gives 7% interest.The second account has $5000 less than the

Question 1053678: Jorge minez has a total of $40,000 invested in three different accounts. He has some money invested in one account that gives 7% interest.The second account has $5000 less than the first account and gives 5% interest.The third account gives 3% interest.If the total annual interest is $2300, find the amount in each acccount.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Jorge minez has a total of $40,000 invested in three different accounts.
He has some money invested in one account that gives 7% interest.
The second account has $5000 less than the first account and gives 5% interest.
The third account gives 3% interest.
If the total annual interest is $2300, find the amount in each account.
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Equations:
s + f + t = 40,000
7s + 5f + 3t = 230000
f = s-5000
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Rearrange::
s + f + t = 40000
7s + 5f + 3t = 230000
s - f + 0t = 5000
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Use any method to solve for system to get::
s = 20000
f = 15000
t = 5000
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Cheers,
Stan H.
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