SOLUTION: Please help me solve this problem. John invests some money at 5%, he then invests $2,000 more dollars at 6%, and he then invests $1,000 less
dollars at 8%. How much did he invest
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dollars at 8%. How much did he invest
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Question 988719: Please help me solve this problem. John invests some money at 5%, he then invests $2,000 more dollars at 6%, and he then invests $1,000 less
dollars at 8%. How much did he invest altogether, if his total interest from all the accounts was $306?
There are too many ambiguities and unspecified parameters to be able to answer this question.
I could assume a one-year term and simple interest, but "$2000 more dollars at 6%" could be interpreted to mean that the total investment at 6% is $2000 or it could mean the same amount that was invested at 5% plus $2000. The 8% investment could be $1000 less than the 5% amount, or it could mean $1000 less than the 6% amount (whatever that actually is).
Repost this problem and be more specific about exactly what you mean.
John
My calculator said it, I believe it, that settles it
