Question 173062: An investor has a total of $26,400 deposited in 3 different accounts, which earn annual interset rates of 6%, 5%, 4%. The amount deposited in the 6% account is twice the amount in the 5% account. If the 3 acccounts earn a total annual nterest of $1331. How much money is deposited in each account?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An investor has a total of $26,400 deposited in 3 different accounts, which earn annual interset rates of 6%, 5%, 4%. The amount deposited in the 6% account is twice the amount in the 5% account. If the 3 acccounts earn a total annual nterest of $1331. How much money is deposited in each account?
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Quantity Eq: x + y + z = 26400
Quantity Eq: x - 2y + 0 = 0
Interest Eq: 0.06 + 0.05y + 0.04z = 1331
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solve the system by any means you know to get:
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x = 11000 (amt. invested at 6%)
y = 5500 (amt. invested at 5%)
z = 9900 (amt. invested at 4%)
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Chers,
stan H.
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