Jamal earns earns a year-end bonus of $32500 and puts it in 3 one-year investments that that pay $1579.50 in simple interest. Part is invested at 3%, part at 4%, and part at 6%. There is $9750 more invested at 6% than at 3%.

A. Create a system of equations that represents this ratio.

B. Find the amount invested at each rate.

Question

05-02-2021
Mathematics

Answered

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Jamal earns earns a year-end bonus of $32500 and puts it in 3 one-year investments that that pay $1579.50 in simple interest. Part is invested at 3%, part at 4%, and part at 6%. There is $9750 more invested at 6% than at 3%.

A. Create a system of equations that represents this ratio.

B. Find the amount invested at each rate.

Sagot :

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