Question

Santiago receives ​$179

per year in simple interest from three investments. Part is invested at​ 2%, part at​ 3%, and part at​ 4%. There is​ $500 more invested at​ 3% than at​ 2%. The amount invested at​ 4% is four times the amount invested at​ 3%. Find the amount invested at each rate.

Answer 1

9514 1404 393

Answer:

• $400 at 2%
• $900 at 3%
• $3600 at 4%

Explanation:

Let x represent the amount invested at 3%. Then (x -500) is the amount invested at 2%, and 4x is the amount invested at 4%. The total interest income is ...

0.02(x -500) + 0.03x + 0.04(4x) = 179

0.21x -10 = 179 . . . . . simplify

0.21x = 189 . . . . . . . . add 10

x = 900 . . . . . . . . . . . divide by 0.21

x -500 = 400

4x = 3600

$400 is invested at 2%; $900 is invested at 3%, $3600 is invested at 4%.