amount in the 6% account, how much invest in the 5% account? A. $4200 B. $2800 C. $1500 D. $3600

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
icon
Related questions
Question
Is it A,B,C, or D Show me step by step. Don’t reject the question again
Lena invested $8,500 into three new accounts. At the end of the year, she earned a total of $412 in interest. The annual yields on the accounts are 4%, 5%, and 6%. If the amount she invested in the 4% account was $200 less than twice the amount in the 6% account, how much did she invest in the 5% account?

A. $4,200  
B. $2,800  
C. $1,500  
D. $3,600

There are no graphs or diagrams accompanying this text.
Transcribed Image Text:Lena invested $8,500 into three new accounts. At the end of the year, she earned a total of $412 in interest. The annual yields on the accounts are 4%, 5%, and 6%. If the amount she invested in the 4% account was $200 less than twice the amount in the 6% account, how much did she invest in the 5% account? A. $4,200 B. $2,800 C. $1,500 D. $3,600 There are no graphs or diagrams accompanying this text.
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Essentials Of Investments
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
FUNDAMENTALS OF CORPORATE FINANCE
FUNDAMENTALS OF CORPORATE FINANCE
Finance
ISBN:
9781260013962
Author:
BREALEY
Publisher:
RENT MCG
Financial Management: Theory & Practice
Financial Management: Theory & Practice
Finance
ISBN:
9781337909730
Author:
Brigham
Publisher:
Cengage
Foundations Of Finance
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education