SOLUTION: Pat Summers wins $200,000 in the Louisiana state lottery. He invests part of the money in real estate with an annual return of 3% and another part in a money market account at 2.5%

Question 932742: Pat Summers wins $200,000 in the Louisiana state lottery. He invests part of the money in real estate with an annual return of 3% and another part in a money market account at 2.5% interest. He invests the rest, which amounts to $80,000 less than the sum of the other two parts, in certificates of deposit that pay 1.5%. If the total annual interest on the money is $4900,how much was invested at each rate?
Answer by TimothyLamb(4379) (Show Source): You can put this solution on YOUR website!
x = amount invested at 3% RE
y = amount invested at 2.5% MM
z = amount invested at 1.5% CD
---
x + y + z = 200000
0.03x + 0.025y + 0.015z = 4900
z = x + y - 80000
---
put the system of linear equations into standard form
---
x + y + z = 200000
0.03x + 0.025y + 0.015z = 4900
x + y - z = 80000
---
copy and paste the above standard form linear equations in to this solver:
https://sooeet.com/math/system-of-linear-equations-solver.php
---
solution:
x = amount invested at 3% RE = 100,000
y = amount invested at 2.5% MM = 40,000
z = amount invested at 1.5% CD = 60,000
---
Solve and graph linear equations:
https://sooeet.com/math/linear-equation-solver.php
---
Solve quadratic equations, quadratic formula:
https://sooeet.com/math/quadratic-formula-solver.php
---
Solve systems of linear equations up to 6-equations 6-variables:
https://sooeet.com/math/system-of-linear-equations-solver.php
---
RELATED QUESTIONS
After winning the lottery, Adonar decided to invest P5,000,000. a portion of the money... (answered by mananth)

A real estate firm invests $100,000 in two ways. The first portion is invested with an... (answered by mananth)

grandpa joe wins $160 000 in the lottery. He descides to keep half of it and share it... (answered by FrankM)

Of the $50,000 that Natasha pocketed on her last real estate deal, $20,000 went to... (answered by Earlsdon)

Invest $30,000 in a special package of bonds, stocks, and real estate and we guarantee... (answered by ewatrrr,ikleyn)

According to a survey, 49% of U.S. adults have purchased a state lottery ticket in the... (answered by Boreal)

6. Alternative A: How much will be the total amount that John will get if he invests Php (answered by ikleyn)

Jeff wins $600,000 (after taxes) in the lottery and decides to invest half of it in a 10... (answered by Fombitz)

Joe Student wins the lottery! Being a loyal Northwesterner he decides to invest his... (answered by bucky)