document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1196399>Question 1196399</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The annual returns on sid carrington's three investments amounted to $21,600:6% on a savings account,8% on mutual funds and 12% on bonds.The amount of Sid's investment in bonds was twice the amount of his investment in the savings and the interest earned from his investment in bonds was equal to the dividends he recieved from his investment in mutual funds.Find how much money he placed in each type of investment </SPAN>\n" );
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document.write( "The problem clearly states that the RETURNS from the three investments amounted to $21,600.<br><BR>\n" );
document.write( "And the problem as stated is NOT ambiguous; the given conditions describe the problem completely.<br><BR>\n" );
document.write( "Let x be the amount invested in savings.<br><BR>\n" );
document.write( "The amount invested in bonds was twice as much: 2x.<br><BR>\n" );
document.write( "The amount of interest on the bonds, 2x, at a return rate of 12%, was the same as the amount of dividends from the mutual funds, at a rate of 8%.  Since the amounts of the returns are the same and the interest rates are in the ratio 12:8 = 3:2, the amounts invested in those two are in the ratio 2:3.  Since the amount invested in bonds was 2x, the amount invested in mutual funds was 3x.<br><BR>\n" );
document.write( "So we have amount x invested at 6%, amount 2x invested at 12%, and amount 3x invested at 8%, yielding total returns of $21,600:<br><BR>\n" );
document.write( ".06(x)+.12(2x)+.08(3x) = 21,600<BR>\n" );
document.write( ".06x+.24x+.24x = 21,600<BR>\n" );
document.write( ".54x = 21,600<BR>\n" );
document.write( "x = 21,600/.54 = 40,000<br><BR>\n" );
document.write( "ANSWERS: The amounts invested in each type of investment were<BR>\n" );
document.write( "savings: x = $40,000<BR>\n" );
document.write( "bonds: 2x = $80,000<BR>\n" );
document.write( "mutual funds: 3x = $120,000<br><BR>\n" );
document.write( " </SPAN>\n" );
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