SOLUTION: A company place $1,000,000 in three different accounts. It placed part in short-term notes paying 4.5% peryear, twice as much in government bonds paying 5% per year, and the rest i

Algebra ->  College  -> Linear Algebra -> SOLUTION: A company place $1,000,000 in three different accounts. It placed part in short-term notes paying 4.5% peryear, twice as much in government bonds paying 5% per year, and the rest i      Log On


   

Question 158113: A company place $1,000,000 in three different accounts. It placed part in short-term notes paying 4.5% peryear, twice as much in government bonds paying 5% per year, and the rest in utility bonds paying 4%. The income after one year is $45,500. How much did the company place in each account?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.045X+.05*2X+.04(1,000,000-3X)=45,500
.045X+.10X+40,000-.12X=45,500
.025X=45,500-40,000
.025X=5,500
X-5,500/.025
X=220,000 INVESTED @ 4.5%
2*220,000=440,000 INVESTED @ 10%
1,000-220,000-440,000=340,000 INVESTED @4%.
PROOF:
.045*220,000+.05*440,000+340,000*.04=45,500
9,900+22,000+13,600=45,500
45,500=45,500