Math World Problem

Question

Equal amounts are invested in each of three accounts paying 6%, 8%, and 12.5% annually. If one year's combined interest income is $1,245.50, how much is invested in each account?

Answer 1

Well, let's give this a try.....

 

3 amounts all the same with three different rates of interest

 

.06x+.08x+12.5X = 26.5/3 we are simply averaging the interest into 8.83%

 

We then divide the interest of $1,245.50 by .088334 and get a total investment of 14,099.99

 

14,090.99 divided by 3 = $4,700.00 each

 

The numbers seem a little sloppy as it doesn't divide into whole numbers but that is my take on it