SOLUTION: Need a little help with equation.
The account at the beginning of the yr was $6700 and earned $619 in interest. Investments were in bonds earning 5% balance funds earning 8% and
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Question 169484: Need a little help with equation.
The account at the beginning of the yr was $6700 and earned $619 in interest. Investments were in bonds earning 5% balance funds earning 8% and agressive funds earning 12%. There were $300 less in agressive than bonds and balances combined. How much was invested in each fund.
Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
a+b+c=6700 where a,b,c are amounts invested in bonds,balance,and aggessive respectively.
:
c=a+b-300...eq 2
.05a+.08b+.12c=619....eq 3
I will let you choose the method of solving this
I came up with a=$1500, b=$2000, and c=$3200
hope that helps
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