Problema Solution
An investor has a total of $25,400 deposited in three different accounts, which earn annual interest rates of 8%, 6%, and 4%. The amount deposited in the 8% account is twice the amount in the 6% account. If the three accounts earn total annual interest of $1546, how much money is deposited in each account?
8% account______$
6% account______$
4% account______$
Answer provided by our tutors
let 'x' represent the amount invested at 8%, then 'x/2' represents the amount invested at 6%... and this problem can not be solved because there is no relative information about the money in the 4% account
this is an incomplete problem statement
if we let 'y' represent the amount invested at 4%, then we have this equation to solve:
1546 = 0.08x + 0.06(x/2) + 0.04y
unsolvable... pick any number number for 'y' and solve for 'x', so there are a huge number of possible answers