SOLUTION: I don't know where to start, please help!
Albert invests money in three accounts that pay 4%, 10%, and 15%. He has two times as much money invested at 10% than he does at 15%. If
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Albert invests money in three accounts that pay 4%, 10%, and 15%. He has two times as much money invested at 10% than he does at 15%. If
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Question 838759: I don't know where to start, please help!
Albert invests money in three accounts that pay 4%, 10%, and 15%. He has two times as much money invested at 10% than he does at 15%. If the total amount he has invested is $4,950 and his interest for the year comes to $520, how much money does he have in each account?
I know how to do it when there are only two varialbes, but no clue how to do it where there are three. Found 2 solutions by Fombitz, josmiceli:Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! Let the three amounts be A, B, and C.
1.
2.
3.
When you substitute eq. 1 into eqs.2 and 3, you end up with only 2 variables (A & C).
4.
.
.
.
5.
.
.
Now solve for A and C and go back to eq. 1 to solve for B.
Repost if you still need help.
You can put this solution on YOUR website! There are 3 unknowns, and you can get
3 equations from given data
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Let = amount invested @ 4%
Let = amount invested @ 10%
Let = amount invested @ 15%
----------------------------------
(1)
(2)
(3)
-------------------------------
(2)
and
Multiply both sides of (1) by
and subtract (1) from (2)
(2)
(1)
Substitute (3) into this result
and, since
(3)
(3)
and
(1)
(1)
(1)
(1)
-----------------
$750 is invested @ 4%
$2800 is invested @ 10%
$1400 is invested @ 15%
----------------------
check:
(2)
(2)
(2)
(2)
OK
