SOLUTION: Equal amounts are invested in each of three accounts paying 3%, 8%, and 12.5% annually. If one year's combined interest income is $963.50, how much is invested in each account?
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Question 839164: Equal amounts are invested in each of three accounts paying 3%, 8%, and 12.5% annually. If one year's combined interest income is $963.50, how much is invested in each account? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! let the amount invested be x
0.03x+0.08x+0.125x= 963.50
0.24x= 963.50
x=4100
Amount invested = $4100
