You inherit one million dollars. You invest it all in three accounts for one year. The first account pays 2% compounded annually, the second account pays 3% compounded annually, and the third account pays 6% compounded annually. After one year, you earn $28250 in interest. If you invest four times the money into the account that pays 2% compared to 6%, how much did you invest in each account? 2%:$ 3% : $ 6%:$
You inherit one million dollars. You invest it all in three accounts for one year. The first account pays 2% compounded annually, the second account pays 3% compounded annually, and the third account pays 6% compounded annually. After one year, you earn $28250 in interest. If you invest four times the money into the account that pays 2% compared to 6%, how much did you invest in each account? 2%:$ 3% : $ 6%:$
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:You inherit one million dollars. You invest it all in three accounts for one year. The first account pays
2% compounded annually, the second account pays 3% compounded annually, and the third account
pays 6% compounded annually. After one year, you earn $28250 in interest. If you invest four times
the money into the account that pays 2% compared to 6%, how much did you invest in each account?
2%:$
3% : $
6%:$
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