Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A total of $8,500 was invested in three interest earning accounts. The interest rates were 2%, 3%, and 6%. If the total simple interest for
A total of $8,500 was invested in three interest earning accounts. The interest rates were 2%, 3%, and 6%. If the total simple interest for one year was $380 and the amount invested at 6% was equal to the sum of the amounts in the other two accounts, then how much was invested in each account?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started