Question :
justinapace7446
Yesterday
Mathematics
High School
+5 pts
Choco pies are cookies made from chocolate (c), sugar (s), and flour (. Chocolate costs $5 per pound, sugar costs
$3 per pound, and flour costs $2 per pound. You spend $50 on 18 pounds of food and buy twice as much flour as
sugar
Calvin wants to invest $12,000 in deposits. For tax purposes, he wants his total interest to be $600. He wants to put
$1000 more in a 2-year deposit than in a l-year deposit and invest the rest in a 3-year deposit. How much money
should he invest in each deposit?
Number of Years
Rate
2.0%
5.0%
6.0%
Answer:
1-year: $2200, 2-year: $3200, 3-year: $6600
Explanation:
Assume y = Amount invested for 1 year.
y + 1000 = investment amount for 2 years
12000 - (y + y + 1000 ) = amount invested for 3 years
11000 - 2y = amount invested for 3 years
Total interest
Multiplying each by its corresponding rate
(0.02 × y) + (0.05 × (y+1000)) + (0.06 × (11000-2y)) = 600
0.02y + 0.05y + 50 + 660 - 0.12y = 600
-0.05y + 710 = 600
-0.05y = 600 - 710
-0.05y = - 110
y = 2200
Therefore first year = y = $2200
Investment for 2 years =y + 1000 = 2200 + 1000 = $3200
Investment for 3 years = 11000 - 2y = (11000 - (2*2200)) = (11000 - 4400) = $6600