SOLUTION: Equal amounts are invested in each of three accounts paying 3%, 7%, and 10.5% annually. If one year's combined interest income is $840.50, how much is invested in each account?
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-> SOLUTION: Equal amounts are invested in each of three accounts paying 3%, 7%, and 10.5% annually. If one year's combined interest income is $840.50, how much is invested in each account?
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Question 758306: Equal amounts are invested in each of three accounts paying 3%, 7%, and 10.5% annually. If one year's combined interest income is $840.50, how much is invested in each account? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Equal amounts are invested in each of three accounts paying 3%, 7%, and 10.5% annually. If one year's combined interest income is $840.50, how much is invested in each account?
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Equation:
3x + 7x + 10.5x = 84050 cents
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20.5x = 84050
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x = $4100.00 dollars
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Cheers,
Stan H.
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