SOLUTION: A man invests $5500 dollars in three accounts that pay 5%, 8%, and 9% in annual interest respectively. He has two times as much money invested at 9% as he does at 8%. If the total
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Question 672425: A man invests $5500 dollars in three accounts that pay 5%, 8%, and 9% in annual interest respectively. He has two times as much money invested at 9% as he does at 8%. If the total interest earned for the year is $449, how much is invested at 5%? Found 2 solutions by josmiceli, mananth:Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 8% = amount invested @ 9%
Let = amount invested @ 5%
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and
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and
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$754.55 was invested @ 5%
check:
close enough
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close enough
You can put this solution on YOUR website! 8%-------------------x
9%-------------------2x
Balance @
5%-------------------(5500-3x)
Interest = 449
0.08x+0.09(2x)+0.05(5500-3x)=449
Multiply by 100
8x+18x+27500-15x=44900
11x=44900-27500
11x=17400
x= 1581.82................8%
2x=3163.64.................9%
754.55.....................5%
