Marina had exist24500 to invest. She divided the money into three different acco

Question

Marina had exist24500 to invest. She divided the money into three different accounts, whose annual yields were 4%, 5.5%, and 6%. At the end of the year, she had made exist1300 in interest. a) If the amount of money invested at 4% was four times the amount invested at 5.5%, how much had she placed in each account? b) How might this answer change if we remove the criteria set up in part a)? Can you still solve the problem? What would be the investment mix if she wanted to invest as much as possible at the 5.5% rate but still maintain the exist1300 in interest? Write down the function shown here. Give exact values only (No decimal numbers).

Explanation / Answer

investment = $ 24500

4% , 5,5% , 6%

let money invested at 5.5% = x

then money invested at 4% = 4x

money invested at 6% = 24500 - 5x

setting up the equation

.055x + .04(4x) + .06 ( 24500 - 5x ) = 1300

on solving we get x = 2000

money invested at 5,5% = $ 2000

at 4% = $ 8000

at 6% = $ 14500

b) if we remove the criteria set up in a we cannot solve the problem as there will be no information about what investment is made under each account

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