Can someone please help
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Answer:
$4300.
Step-by-step explanation:
Let x represent amount of money invested in each account.
We have been given that equal amounts are invested in each of three accounts paying 7%, 9%, and 12.5%, one years combined interest income is $1,225.5.
We will use simple interest formula to solve our given problem.
, where,
I = Amount of interest after t years,
P = Principal amount,
r = Annual interest rate.
Since principal for each amount is equal and time is equal to 1 year, so we can represent our given information in an equation as:
Therefore, an amount of $4300 is invested in each account.