SOLUTION: Joeseph Smith is the manager of a trust. He invested 30% of a clients cash in gov't bonds that earn 6.5% annual simple interest, 30% in utility stocks that earn 7% annual simple in

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Question 214049: Joeseph Smith is the manager of a trust. He invested 30% of a clients cash in gov't bonds that earn 6.5% annual simple interest, 30% in utility stocks that earn 7% annual simple interest, and the remainder in an account that earns 8% annual simple interest. The total annual interest earned from the investments was $5437.50. Find the total amount invested.
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.3x*.065+.3x*.07+.4x*.08=5,437.50
.0195x+.021x+.032x=5,437.50
.0725x=5,437.50
x=5,437.50/.0725
x=75,000 is the amount invested.
Proof:
.3*75,000*.065+.3*75,000*.07+.4*75,000*.08=5,437.50
1,462.5+1,575+2,400=5,437.5
5,437.5=5,437.5