SOLUTION: Equal amounts are invested at 5%, 7%, and 8% annual interest. If the three investments yield a total of $740 annual interest, find the total investment.
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Question 1163763: Equal amounts are invested at 5%, 7%, and 8% annual interest. If the three investments yield a total of $740 annual interest, find the total investment. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Equal amounts are invested at 5%, 7%, and 8% annual interest.
If the three investments yield a total of $740 annual interest, find the total investment.
let a the the amt of each
.05a + .07a + .08a = 740
.2a = 740
a = 740/.2
a = $3700
:
3(3700) = $11100 is the total investment
:
:
Check:
.05(3700) = 185
.07(3700) = 259
.06(3700( = 296
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totals to: 740
