Ask Question
25 April, 23:21

Amanda invested a total of 50,000 in three accounts. Account A pays 3% annual interest, account B pays 2% and account C pays 4% interest. The total anual interest from the three accounts is 1,700. The amount invested in account A is four times the amount invested in B. How much did she invest in account A?

+1
Answers (1)
  1. 25 April, 23:31
    0
    Amanda invested $ 20,000 in Account A

    Step-by-step explanation:

    1. Let's review the information given to us to answer the question correctly:

    Total investment = $ 50,000

    Account A annual interest = 3% = 0.03

    Account B annual interest = 2% = 0.02

    Account C annual interest = 4% = 0.04

    Total annual interest = $ 1,700

    The amount invested in account A is four times the amount invested in B.

    2. How much did she invest in account A?

    Let's answer the question, using the following equation:

    x = Amount invested in account B

    4x = Amount invested in account A

    50,000 - 5x = Amount invested in account C

    0.03 * 4x + 0.02x + 0.04 * (50,000 - 5x) = 1,700

    0.12x + 0.02x - 0.2x = 1,700 - 2,000 (Like terms)

    -0.06x = - 300

    x = 300/0.06

    x = 5,000 ⇒ 4x = 4 * 5,000 = 20,000 ⇒ 50,000 - 5x = 25,000

    Amanda invested $ 20,000 in Account A, $ 5,000 in Account B and $ 25,000 in Account C.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Amanda invested a total of 50,000 in three accounts. Account A pays 3% annual interest, account B pays 2% and account C pays 4% interest. ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers