Question

Samantha divides $16,000 into three investments: a savings account 3 points paying 7% annual interest, a bond paying 9%, and a money market fund paying 12%. The annual interest from the three accounts is $ 1640, and she has three times as much invested in the band as in the savings account. What amount does she have invested in each account?

Answer 1

Answer:

2000 was the amount of the investment in the savings account

6000 was the amount of the investment in the payment of bonds

8000 was the amount of the investment in the money market

Step-by-step explanation:

In this case, a system of equations must be generated with the information given in the statement.

Let x be the amount of the investment in the savings account

Let y be the amount of the investment in the payment of bonds

Let z be the amount of investment in the money market

Now, the first equation would be that of total investment:

x + y + z = 16000

The second equation is that of interest:

0.07 * x + 0.09 * y + 0.12 * z = 1640

Last, her equation has invested three times more in the bond payment than in the savings account:

3 * x = y

So we have 3 equation with 3 unknowns. Therefore there is a solution.

x + y + z = 16000

0.07 * x + 0.09 * y + 0.12 * z = 1640

3 * x = y

In order not to make the answer too extensive, we will solve the system of equations with the help of symbolab, here is the step-by-step of everything they do in a very detailed and precise way.

https://es.symbolab.com/solver/step-by-step/x%20%2B%20y%20%2B%20z%20%3D%2016000%3B%200.07%20%5Ccdot%20x%20%2B%200.09%20%5Ccdot%20y%20%2B%200.12%20%5Ccdot%20z%20%3D%201640%3B%203%20%5Ccdot%20x%20%3D%20y

From this, the results are as follows:

x = 2000

y = 6000

z = 8000

Thus

2000 was the amount of the investment in the savings account

6000 was the amount of the investment in the payment of bonds

8000 was the amount of the investment in the money market