An investment of $36,000 was made by a business club. The investment was split into three parts
Fantastic news! We've Found the answer you've been seeking!
Question:
An investment of $36,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was $2820. The interest from the first investment was 3 times the interest from the second. Find the amounts of the three parts of the investment.
1st part of the investment was how much?
2nd part of the investment was how much?
3rd part of the investment was how much?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th Edition
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
Posted Date: