Question 127275This question is from textbook College Algebra
: I'm really struggling with this word problem - never have been a strengh of mine.
I need to find the individual amounts invested into three different accounts with different rates.
I have the rates...2%,2.5% and 1.25%The amount invested was $40,000 $825
The total interest from all three accounts in the first year was $825
I would greatly appreciate any help provided, even just a formula would be great.
This question is from textbook College Algebra
Answer by checkley71(8403)   (Show Source):
You can put this solution on YOUR website! .02x+.25y+.0125(40,000-x-y)=825
This is an equation with 2 unknowns.
Thus there is not a unique/single solution.
HOWEVER if you set up a table for x,y & z values you get the following answer:
x=25,000*.02=$500
y=11,000*.025=$275
z=4,000*.0125=$50
x+y+z=$40,000 &:
500+275+50=$825 an answer.
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