SOLUTION: I need help wthi this question:
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
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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 the total
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Question 838756: I need help wthi this question:
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 these problems when there are two variables, but not where there are three. Answer by ewatrrr(24785) (Show Source):
Hi,
total amount he has invested is $4,950
He has two times as much money invested at 10% than he does at 15% amount of
15%
10%
5% (4950 - x - 2x) 0r (4950-3x)
Question States: interest for the year comes to $520
.20x = 520 - 247.50 = $272.50
.2x = $272.50
x = $1362.50
15% = 1362.50 + 204.375
10% = 2725 + 272.50
5% = 862.50 + 43.125
CHECKING our answer*** = 204.375 + 272.50 + 43.125 = $520
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