SOLUTION: Mr. Joyce inherited a sum of money. He invested 2/5 of this sum at 4%, 1/3 at 5%, and the rest at 3%. If the annual income from these investments was $610, find the amount of mon

Question 147039: Mr. Joyce inherited a sum of money. He invested 2/5 of this sum at 4%, 1/3 at 5%, and the rest at 3%. If the annual income from these investments was $610, find the amount of money he inherited.

Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.04*2X/5+.05*X/3+.03*4/15=610
.08X/5+.05X/3+.12X/15=610
(.08X*3+.05X*5+.12X)/15=610
(.24X+.25X+12X)/15=610
.61X=15*610
.61X=9150
X=9150/.61
X=$15,000 TOTAL AMOUNT INVESTED.
PROOF:
.08*15000/5+.05*15000/3+.12*15,000/15=610
240+250+120=610
610=610

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