SOLUTION:
Equal amounts are invested at 2%, 7%, and 9% annual interest. If the three investments yield a total of $612 annual interest, find the total investment.
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Question 706238:
Equal amounts are invested at 2%, 7%, and 9% annual interest. If the three investments yield a total of $612 annual interest, find the total investment.
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
.02X+.07X+.09X=612
.18X=612
X=612/.18
X=$3400 AMOUNT INVESTED @ EACH RATE.
PROOF:
.02*3400+.07*3400+.09*3400=612
68+238+306=612
612=612
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