Question: Martin received $104 in simple interest one year from three investments. Part is invested at 1.5%, part at 2%, and part at 3%. The amount

Martin received $104 in simple interest one year from three investments. Part is invested at 1.5%, part at 2%, and part at 3%. The amount invested at 2% is twice the amount invested at 1.5%. There is $400 more invested at 3% than at 2%. Find the amount invested at each rate.

Step by Step Solution

★★★★★

3.44 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Let x y and z represent the amounts invested at 15 2 and 3 respectively Transl... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

864-L-A-L-S (1186).docx

120 KBs Word File

Students Have Also Explored These Related Linear Algebra Questions!

Ryan deposits $775 in an account that pays 4.24% simple interest for four years. Brian deposits $775 in an account that pays 4.24% simple interest for one year. a. What is Ryan's interest after the...

Investigate the difference between compounding annually and simple interest for parts a-j. a. Find the simple interest for a one-year CD for $5,000 at a 6% interest rate. b. Find the interest for a...

Natsumi receives $126 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%...

Huiliang received $150 in simple interest one year from three investments. Part is invested at 1.5%, part at 2%, and part at 3%. The amount invested at 2% is twice the amount invested at 1.5%. There...

Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...

Steve Drake sells a rental house on January 1, 2012, and receives $130,000 cash and a note for $55,000 at 10 percent interest. The purchaser also assumes the mortgage on the property of $45,000....

Hi, this assignment is Urgent! The instruction is in the attachment ?final project guidelines and rubric?. Using Home Depot Financial Report, (here?s the link)...

For the Part IV (Week 7) assignment, you are asked to do the following: Use the Parts I, II, and III assignments you completed previously. Correct your Part III assignment mistakes, if any, based on...

Calvin and his wife Susie live in Watterson, California which is a moderate sized town between Sacramento and Chico. They have been pretty successful in their financial lives over the years and own a...

Suppose the net present value of a company's unleveraged free cash flows is $500 million. The present value of the terminal value is $3,000 million. Net debt is $200 million. The cost of capital is...

Clayton Inc estimates it will produce 1200 sanding machines during the next year with costs as follows Direct materials 245 per unit Direct labor 240 per unit Variable overhead 160 per unit Fixed...

7 Multiple Choice 1 point Most investors own common stocks because their expected return over time can average q , percent from the combination of dividends and capital gains. 1 2 3 9 6

Personal processes. From your personal life, provide two examples of processes for which you would collect data in the form of individual measurements that ultimately might be monitored by an I chart.

Consider the number of heads, x, when 15 fair coins are all tossed at once. a. Use binomial expansion to find the probability distribution for P(x). Then calculate the theoretical results for 500...

Suppose you roll a pair of standard six-sided dice five times. What is the probability of rolling a sum of 8 at least three times?

The line RT is tangent to a unit circle, and at Q. Point P makes one rotation around the unit circle every 20 seconds. a. Find an equation to model the distance QR over a 1-minute period, starting...

What will be the profit to an investor who buys the put for $ 7 . 5 in the following scenarios for stock prices in 6 months? ( i ) $ 4 0 ; ( ii ) $ 4 5 ; ( iii ) $ 5 0 ; ( iv ) $ 5 5 ; ( v ) $ 6 0 .

Find the future values of the following ordinary annuities: FV of $ 5 0 0 paid each 6 months for 5 years at a nominal rate of 1 1 % compounded semiannually. Do not round intermediate calculations....

Carlton Products Company has analyzed the indirect costs associated with servicing its various customers in order to assess customer profitability. Results appear below: If all costs were assigned to...