SOLUTION: Equal amounts are invested at 6%, 7%, and 8% annual interest. If the three investments yield a total of $2,037 annual interest, find the total investment.

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Question 107320This question is from textbook College Algebra
: Equal amounts are invested at 6%, 7%, and 8% annual interest. If the three investments yield a total of $2,037 annual interest, find the total investment. This question is from textbook College Algebra

Found 2 solutions by Fombitz, MathLover1:
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
0.06A%2B0.07A%2B0.08A=2037
0.21A=2037
A=2037%2F0.21
A=9700
Each of the three investments has $9,700 in it for a total of 3($9,700)=$29,100.

Answer by MathLover1(20849) About Me  (Show Source):
You can put this solution on YOUR website!



Equal amounts are invested at 6%, 7%, and 8% annual interest. If the three investments yield a total of $2037 annual interest, find the total investment.
If amount is x, then
%286%2F100%29x+%2B+%287%2F100%29x+%2B+%288%2F100%29x+=+2037……..multiply both sides by 100
6x+%2B+7x+%2B+8x+=+203700
21x+=+203700
x+=+203700%2F21
x+=+9700...........total investment
check:
%286%2F100%299700+=+582
%287%2F100%299700+=+679
%288%2F100%299700+=+776
582+%2B++679+%2B+776+=+2037.....annual interest