Tam received a check for $10,000. She decided to divide the money (not equally) into three different investments. She placed part of her money in a savings account paying 3% interest. The second amount, which was twice the first amount, was placed in a certificate of deposit paying 5% interest. She placed the balance in money market fund paying 6% interest. If Tam’s total interest over the period of 1 year was $525.00, how much was placed in each account?
Mixture word problem.
- Thread starter missc
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- Apr 12, 2005
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Define a couple of variables and have at it. I'll get you started.
P = Part of the money that is invested at 3%
Q = 2P = Part of the money that is invested at 5%
R = 10000 - P - Q = The rest of the money, invested at 6%
Let's see what you get.
P = Part of the money that is invested at 3%
Q = 2P = Part of the money that is invested at 5%
R = 10000 - P - Q = The rest of the money, invested at 6%
Let's see what you get.