Question 1053678: Jorge minez has a total of $40,000 invested in three different accounts. He has some money invested in one account that gives 7% interest.The second account has $5000 less than the first account and gives 5% interest.The third account gives 3% interest.If the total annual interest is $2300, find the amount in each acccount.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Jorge minez has a total of $40,000 invested in three different accounts.
He has some money invested in one account that gives 7% interest.
The second account has $5000 less than the first account and gives 5% interest.
The third account gives 3% interest.
If the total annual interest is $2300, find the amount in each account.
------------------------
Equations:
s + f + t = 40,000
7s + 5f + 3t = 230000
f = s-5000
--------
Rearrange::
s + f + t = 40000
7s + 5f + 3t = 230000
s - f + 0t = 5000
---------------------
Use any method to solve for system to get::
s = 20000
f = 15000
t = 5000
--------
Cheers,
Stan H.
-------------
|
|
|
