Investment An inheritance of $40,000 is divided among three investments yielding $3500 in interest per year. The interest rates for the three investments are 7 % , 9 % , and 11 % simple interest. Find the amount placed in each investment when the second and third amounts are $3000 and $5000 less than the first, respectively.
Investment An inheritance of $40,000 is divided among three investments yielding $3500 in interest per year. The interest rates for the three investments are 7 % , 9 % , and 11 % simple interest. Find the amount placed in each investment when the second and third amounts are $3000 and $5000 less than the first, respectively.
Solution Summary: The author calculates that an inheritance of 40,000 is divided among the three investments which yield a yield of 3500 per year.
Investment An inheritance of
$40,000
is divided among three investments yielding
$3500
in interest per year. The interest rates for the three investments are
7
%
,
9
%
,
and
11
%
simple interest. Find the amount placed in each investment when the second and third amounts are
$3000
and
$5000
less than the first, respectively.
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