Investment A trust account manager has $1,000,000to be invested in three different accounts. Theaccounts pay 6%, 8%, and 10%, respectively, andthe goal is to earn $86,000 with the amount investedat 10% equal to the sum of the other two investments. To accomplish this, assume that x dollarsare invested at 6%, y dollars at 8%, and z dollars at10%. Find out how much should be invested in eachaccount to satisfy the conditions
Investment A trust account manager has $1,000,000to be invested in three different accounts. Theaccounts pay 6%, 8%, and 10%, respectively, andthe goal is to earn $86,000 with the amount investedat 10% equal to the sum of the other two investments. To accomplish this, assume that x dollarsare invested at 6%, y dollars at 8%, and z dollars at10%. Find out how much should be invested in eachaccount to satisfy the conditions
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Investment A trust
to be invested in three different accounts. The
accounts pay 6%, 8%, and 10%, respectively, and
the goal is to earn $86,000 with the amount invested
at 10% equal to the sum of the other two investments. To accomplish this, assume that x dollars
are invested at 6%, y dollars at 8%, and z dollars at
10%. Find out how much should be invested in each
account to satisfy the conditions
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