SOLUTION: Santiago receives ​$309 per year in simple interest from three investments. Part is invested at​ 2%, part at​ 3%, and part at​ 4%. There is​ $500 more
Algebra.Com
Question 1128104: Santiago receives $309 per year in simple interest from three investments. Part is invested at 2%, part at 3%, and part at 4%. There is $500 more invested at 3% than at 2%. The amount invested at 4% is six times the amount invested at 3%. Find the amount invested at each rate. Solve for the amount invested at each percent.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Santiago receives $309 per year in simple interest from three investments. Part is invested at 2%, part at 3%, and part at 4%. There is $500 more invested at 3% than at 2%. The amount invested at 4% is six times the amount invested at 3%. Find the amount invested at each rate. Solve for the amount invested at each percent.
Equations:
2t + 3r + 4f = 30900
r = t+500
f = 6*r
-------
Substitute and solve for "r"
2(r-500) + 3r + 24r = 30900
29r = 31900
r = $1100 (amt. invested at 3%)
f = 6r = $6600 (amt. invested at 4%)
t = r-500 = $500 (amt. invested at 2%)
-------------
Cheers,
Stan H.
----------
RELATED QUESTIONS
Natsumi receives $126 per year in simple interest from three investments. Part is... (answered by richwmiller)
Katie invested a total of $4000
,
part at 2
%
simple interest... (answered by richwmiller,ikleyn)
Miguel receives $306 per year in simple interest from three investments totaling $3200.... (answered by richwmiller)
casey receives $ 336 per year in simple interest from 3 investments. part is invester at... (answered by stanbon)
Kyle plans to invest $8000, part at 2% simple interest and the rest... (answered by macston)
A person invested $8200 for 1 year, part at 8%, part at 9%,... (answered by ikleyn)
If $7300 is invested at
6% annual simple interest, how much should (answered by Boreal)
Fran receives $153 per year in simple interest from investing $1900. Part is invested at... (answered by TimothyLamb)
A renowned mathematician received a $40000 bonus to accept a tenured... (answered by solver91311)