Problema Solution

Equal amounts are invested at 6%, 7%, and 8% annual interest. If the three investments yield a total of $2,037 annual interest, find the total investment.

Answer provided by our tutors

Equal amounts are invested at 6%, 7%, and 8% annual interest. If the three investments yield a total of $2,037 annual interest, find the total investment.

Let x  be the  equal amount incetsed at  6%, 7% and 8%.

0.06x+0.07y+0.08X=2037.

0.21x=2037.

x=2037/0.21

=$9700.

Total invetsment =9700+9700+9700

=$29100.