Investment An amount of $46,000 is divided among three investments yielding $3020 in interest per year. The interest rates for the three investments are 5 % , 7 % , and 8 % simple interest. Find the amount placed in each investment when the second and third amounts are $2000 and $3000 less than the first, respectively.
Investment An amount of $46,000 is divided among three investments yielding $3020 in interest per year. The interest rates for the three investments are 5 % , 7 % , and 8 % simple interest. Find the amount placed in each investment when the second and third amounts are $2000 and $3000 less than the first, respectively.
Solution Summary: The author calculates how an inheritance of 46,000 is to be divided among the three investments which yield
Investment An amount of
$46,000
is divided among three investments yielding
$3020
in interest per year. The interest rates for the three investments are
5
%
,
7
%
,
and
8
%
simple interest. Find the amount placed in each investment when the second and third amounts are
$2000
and
$3000
less than the first, respectively.
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