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
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?
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Get StartedRecommended Textbook for
Fundamentals of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
8th Edition
978-0073530628, 978-0077861629
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