A sum of $20,000 is invested in three mutual funds. In one year the first fund grew
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A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund. Find the amount invested in each fund.
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Let x y and z equal the amounts invested in the three mutual funds Then xyz20000 005x007y010z1650 ...View the full answer
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Related Book For
College Algebra With Modeling And Visualization
ISBN: 9780134418049
6th Edition
Authors: Gary Rockswold
Question Posted:
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