Question 165151This question is from textbook
: investments: An investor has a total of 25,000 deposited into three diffrent accounts, which earn annual interest rate of 8%, 6%, and 4%. The amount deposited in the 8% account is twice the amount in the 6% account. If the three accounts earns total annual interest of $1520, how much money is deposited into each account?
This question is from textbook
Found 2 solutions by josmiceli, padmameesala:
Answer by josmiceli(19441)   (Show Source):
Answer by padmameesala(42)  (Show Source):
You can put this solution on YOUR website! Let the amounts in three different accounts be x,y,z respectively.
Then x + y + z = 25000 ------------(1)
and annual interest of x is 8%
y is 6%
z is 4%
The amount deposited in the 8% account is twice the amount in the 6% account.
That is x=2y --------------------(2)
the three accounts earns total annual interest of $1520
that gives 8%x + 6%y + 4%z = 1520
8x + 6y + 4z = 152000
4x + 3y + 2z = 76000 --------------(3)
Solving the 3 eqns for x,y,z
plug x=2y in eqns 1 and 3
3y + z = 25000 ----------(4)
11y + 2z = 76000 ----------(5)
subtract eqns (5) and 2* eqn (4)
5y = 26000
y = 5200
x = 10400 from eqn (2)
and z = 9400 from eqn (1)
The money deposited in the 3 accounts is 10400, 5200 and 9400
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