SOLUTION: An Investment of $58,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the se
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Question 931515: An Investment of $58,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was $4500. The interest from the first investment was 4 times the interest from the second. Find the amounts of the three parts of the investment. Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! x invested at 8%............... Interest = 8%x
y invested @6%..................Interest =6%y
Balance = 58000-(x+y) @9%........Interest = 9%(58000-(x+y))
Total Interest =4500
8%x+6%y+58000-(x+y)*9%=4500
multiply by 100
8x+6y+9z=450000
Interest of part = 4 times interest on part II
8%x=4*6%y
multiply by 100
8x= 24y
x=3y
substitute x
24y+6y +9(58000-4y)=450000
30y+522000-45y=450000
-15y=-72000
y=4800
x=3y
x= 14400
z=58000-(4800+14400)
z=38800
Check
38800+14400+4800=58000
