SOLUTION: Joseph is the manager of a trust. he invested 30% of a clients cash in government bonds that earn 6.5% annual simple interest, 30% in utility stocks that earn 7% annual simple inte
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-> SOLUTION: Joseph is the manager of a trust. he invested 30% of a clients cash in government bonds that earn 6.5% annual simple interest, 30% in utility stocks that earn 7% annual simple inte
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Question 443563: Joseph is the manager of a trust. he invested 30% of a clients cash in government bonds that earn 6.5% annual simple interest, 30% in utility stocks that earn 7% annual simple interest, and the remainder in an account that earns 8% annual simple interest. The total annual interest earned from the investments was 5437.50. Find the total amount invested. Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! .3x(.065)+.3x(.07)+.4x(.08)=5437.50
.0195x+.021x+.032x=5437.50
.0725x=5437.50
x=5437.50/.0725=75000
The total amount invested was $75000.00..
