Question

a company placed 1,000,000 in three different accounts. it placed part n short-term notes paying 4.5% per year, twice as much in government bonds paying 5% and the rest in utility bonds paying 4%. the income after one year was 45,500. how did the company place in each account

Answer 1

N*0.045+2n*0,050+(1,000,000-3n)*0,040=45,500
n*0.145-n*0.120=45,500-40,000
n*0.025=5,500
n=5,500/0.025
n=220,000  in short-term notes paying 4.5%
2n=440.000  in government bonds paying 5%
1,000,000-3n=1,000,000-660,000=440,000  in utility bonds paying 4%