I love you relative invested 56000 dollars. They invested some of the money in a

Question

I love you relative invested 56000 dollars. They invested some of the money in account A that yielded 3% simple interest, some of the money in account B that yielded 3.5% simple interest, and the remainder in account C that yielded 4% simple interest. Your relative said the total interest earned from three investments for one year was 2020 dollars. Your relative also said the amount invested at 4% was twice the amount invested at 3%. Can you determine how much your relative invested in each of the three accounts?

Explanation / Answer

a = amount invested in account A b = amount invested in account B c = amount invested in account C Total amount invested = 56000 -----> a + b + c = 56000 Total interest earned = 2020 --------> 0.03a + 0.035b + 0.04c = 2020 Amount invested at 4% (account C) is twice amount invested at 3% (account A) c = 2a System: a + b + c = 56000 0.03a + 0.035b + 0.04c = 2020 2a ? c = 0 Augmented matrix: [ 1 .... 1 ...... 1 .... 56000 ] [ 0.03 0.035 0.04 . 2020 ] [ 2 .... 0 ...... ?1 .......... 0 ] Answer: a = $12,000 b = $20,000 c = $24,000

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