Question
An investment of 53,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part
An investment of 53,000was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned8% interest, the second6%, and the third9%. Total interest from the investments was $4050.
The interest from the first investment was 4times the interest from the second. Find the amounts of the three parts of the investment.
What is the amount of the first part of theinvestment?$____
What is the amount of the second part of theinvestment? $____
What is the amount of the third part of theinvestment? $____
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