SOLUTION: A sum of $23,000 was invested in three mutual funds. In one year, the first fund grew by 4%, the second by 5%, and the third by 7.5%. Total earnings were $1360. The amount invested

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A sum of $23,000 was invested in three mutual funds. In one year, the first fund grew by 4%, the second by 5%, and the third by 7.5%. Total earnings were $1360. The amount invested      Log On


   

Question 729579: A sum of $23,000 was invested in three mutual funds. In one year, the first fund grew by 4%, the second by 5%, and the third by 7.5%. Total earnings were $1360. The amount invested in the third fund was $1000 less than the combined amount invested in the other two funds. Use a linear system of equations to determine the amount invested in each fund. Use the simple interest formula to calculate each fund's growth.
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