Problema Solution

An investment of $92,000 was made by a business club. the investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6% and the third 9%. Total interest from the investments was $7200. The interest from the first investment was 4 times the interest from the second. Find the amounts of the three parts of the investment

Answer provided by our tutors

x  + y + z = 92000

0.08x + 0.06y + 0.09z = 7200

0.08x - 0.24y = 0

 

first part   54000

secnd      18000

third part   20000