Question

4.
-/1 points
GHColAlg12 1.2.029.
Equal amounts are invested at 2%, 7%, and 8% annual interest. If the three investments yield a total of $714 annual interest, find the total investment.

Answer 1

Answer:

  $12600

Step-by-step explanation:

If x represents the total investment, then the total interest is ...

  (x/3)(0.02) +(x/3)(0.07) +(x/3)(0.08) = 714

  x(.17) = 2142 . . . . multiply by 3; collect terms

  x = 2142/0.17 = 12600

The total investment was $12,600.