Question 673131: The manager of a trust account invests 25% of a client's account in a money market fund which earns 8% annual simple interest, 40% in bonds which earn 10.5% annual simple interest, and the remainder in trust deeds which earn 13% annual simple interest. How much should be invested in each type of investment so that the total interest earned is $4300?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! let the total investment be x
25x% @ 8%
40% @ 10.5% bonds
(x-(0.25x+0.4x) @ 13%
0.25x**8%+0.4x*10.5%+ (1-0.25x+0.4x)*0.13% = 4300
multiply by 100
8*0.25x+10.5*0.4x+0.35x*13=4300*100
2x+4.2x+4.55x=430000
10.75x=430000
x=430000/10.75
= 40,000
Total invested = $40,000
25% of 40,000@ 8% --> $10,000
40% of 40,000 @ 10.5% bonds ----->$ $16000
35% of 40,000 @ 13%---->$14000
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