EVALUATION: Find the three interests and add to see if you get $98. Use
I¼PRTwhereT¼1.
First investment:I¼ 2 %ð 400 Þ¼$ 8
Second investment:I¼ 5 %ð 1200 Þ¼$ 60
Third investment:I¼ 3 %ð 1000 Þ¼$ 30
$ 8 þ$ 60 þ$ 30 ¼$ 98Try These
- An investor made two investments, one paying 7% and one paying
5%. If the total amount invested was $12,000 and the total
interest she earned after one year was $760, find the amount of
each investment. - A person invested $9000, part at 4^12 % and the rest at 5%. If the total
interest he earned after one year was $435, find the amount of each
investment. - A person invested twice as much in stocks paying 3% as he did in
bonds paying 6%. If the interest at the end of the year was $780, find
the amount of money he invested in each. - A person invested a certain amount of money in a savings account
paying 2% and $1600 more than that amount in a one-year CD
paying 3^12 %. If the total interest in the two investments was $276,
find the amount of money she invested in each. - An investor invested a certain amount of money in an account pay-
ing 3%. He invests 4 times that amount into another account paying
412 %, and he invests $900 more than the amount in the 3% account
into a third account paying 6%. If the total yearly interest from all
three accounts was $297, find the amount he invested in each
account. - A person invested 5 times as much money at 5^12 % as she did at 2^34 %.
If the total interest from the investment at the end of the year was
$181.50, how much did she invest at each rate? - A person has $1300 less invested at 9% than he has invested at 5%. If
the total yearly interest from the investments is $219, find the
amounts he has invested at each rate.
166 LESSON 15 Solving Finance Problems