Problema Solution
fran receives $274 per year in simple interest from investing $3200. Part is invested at 7%, part at 8% and part at 9%. There is $1000 more invested at 9% than at 8%. Find the amount invested at 9%
Answer provided by our tutors
let
x = the money invested at 7%
y = the money invested at 8%
z = the money invested at 9%
fran receives $274 per year in simple interest from investing $3200
x + y + z = 3200
0.07x + 0.08y + 0.09z = 274
there is $1000 more invested at 9% than at 8%
z = 1000 + y
by solving the system of equations
x + y + z = 3200
0.07x + 0.08y + 0.09z = 274
z = 1000 + y
we find
z = $2,000
click here to see the step by step solution of the system of equations
Fran invested $2,000.00 at 9% simple interest.