Question 206724: Can you help me in translating this statement into equation? "A man has three sums of money invested, one at 4%, one at 5% and one at 3%. His total yearly income from the three investments is P1400. The last investment yields 100 more per year than the other two combined. If he could receive 1% more on each investment, his annual income would be increased by P400. How much does he invested at each rate?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Can you help me in translating this statement into equation?
"A man has three sums of money invested, one at 4%, one at 5% and one at 3%.
His total yearly income from the three investments is P1400.
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Interest Equation: 0.04x+0.05y+0.03z = 1400
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The last investment yields 100 more per year than the other two combined.
Interest Eq: 0.03z = (0.04x+0.05y)+100
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If he could receive 1% more on each investment, his annual income would be increased by P400.
Interest Eq: 0.05x + 0.06y + 0.04z = 1400+400
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How much does he have invested at each rate?
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Cheers,
Stan H.
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