SOLUTION: The manager of a trust account invests 25% of a client's account in a money market fund which earns 8% annual simple interest, 40% in bonds which earn 10.5% annual simple interest,

Algebra.Com
Question 673131: The manager of a trust account invests 25% of a client's account in a money market fund which earns 8% annual simple interest, 40% in bonds which earn 10.5% annual simple interest, and the remainder in trust deeds which earn 13% annual simple interest. How much should be invested in each type of investment so that the total interest earned is $4300?
Answer by mananth(16946)   (Show Source): You can put this solution on YOUR website!
let the total investment be x
25x% @ 8%
40% @ 10.5% bonds
(x-(0.25x+0.4x) @ 13%
0.25x**8%+0.4x*10.5%+ (1-0.25x+0.4x)*0.13% = 4300
multiply by 100
8*0.25x+10.5*0.4x+0.35x*13=4300*100
2x+4.2x+4.55x=430000
10.75x=430000
x=430000/10.75
= 40,000
Total invested = $40,000
25% of 40,000@ 8% --> $10,000
40% of 40,000 @ 10.5% bonds ----->$ $16000
35% of 40,000 @ 13%---->$14000



RELATED QUESTIONS

Joeseph Smith is the manager of a trust. He invested 30% of a clients cash in gov't bonds (answered by checkley77)
Joseph is the manager of a trust. he invested 30% of a clients cash in government bonds... (answered by jorel1380)
A client of the ABC investment company wanted to invest $20,000. She was advised to... (answered by Nate)
Wendy has $10,000 in her savings. She is going to invest part of the money in a stock... (answered by greenestamps)
22. A trust administrator divided $20,000 between two accounts. One account earns an... (answered by checkley75)
Tory invests money in two plans. She invests two-fifths of the money at a return rate of... (answered by checkley71)
Maricopa's Success scholarship fund receives a gift of $ 85000. The money is invested in... (answered by Boreal)
Kachina Caron invests $1200 in a simple interest account and earns $72 in 8 months. What... (answered by venugopalramana)
An investing advisor put 75% of a client's money into a money market fund with a 9%... (answered by ikleyn,greenestamps)