Problema Solution
Fran receives $274 per year in simple intrest from investing $3200. Part is invested at 7 percent, part at 8 percent, and part at 9 percent. There is $1000 more invested at 9 percent than at 8 percent. Find the amount invested at each rate.
Answer provided by our tutors
let
x = the part invested at 7%
y = the part invested at 8%
z = the part invested at 9%
x + y + z = 3200
0.07x + 0.08y + 0.09z = 274
There is $1000 more invested at 9 percent than at 8 percent
z = y + 1000
by solving the system of equations
x + y + z = 3200
0.07x + 0.08y + 0.09z = 274
z = y + 1000
we find
x = $200
y = $1000
z = $2000
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$200 are invested at 7%
$1,000 are invested at 8%
$2,000 are invested at 9%