SOLUTION: Amanda invested a total of $2,600 into three separate accounts that pay 6 %, 8 % and 10 % annual interest. Amanda has three times as much invested in the account that pays 1
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Question 1148601: Amanda invested a total of $2,600 into three separate accounts that pay 6 %, 8 % and 10 % annual interest. Amanda has three times as much invested in the account that pays 10 % as she does in the account that pays 6 %. If the total interest for the year is $ 224, how much did Amanda invest at each rate? Answer by ikleyn(52776) (Show Source):
Let x be the amount she investment at 6%.
Then the amount invested at 10% is 3x, and the investment at 8% is the rest (2600-x-3x) = (2600-4x) dollars.
The total interest is the sum of partial interests
0.06x + 0.10*(3x) + 0.08*(2600-4x) = 224 dollars.
Simplify; express x and calculate
x = = 400 dollars.
Hence her investments are: $400 at 6%; $1200 at 10% and 2600-4*400 = $1000 at 8%. ANSWERCHECK. 0.06*400 + 0.1*1200 + 0.08*1000 = 224 dollars. ! Correct !
