You inherit one million dollars. You invest it all in three accounts for one year. The first account pays 3% compounded annually, the second account pays 4 % compounded annually, and the third account pays 2% compounded annually. After one year, you earn $31, 000 in interest. If you invest four times the money into the account that pays 3 % compared to 2%, how much did you invest in each account? Investment in the 3% account is $ Investment in the 4% account is $ Investment in the 2% account is $

You inherit one million dollars. You invest it all in three accounts for one year. The first account pays 3% compounded annually, the second account pays 4 % compounded annually, and the third account pays 2% compounded annually. After one year, you earn $31, 000 in interest. If you invest four times the money into the account that pays 3 % compared to 2%, how much did you invest in each account? Investment in the 3% account is $ Investment in the 4% account is $ Investment in the 2% account is $

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

You inherit **one million dollars**. You invest it all in **three** accounts for one year. The first account pays **3%** compounded annually, the second account pays **4%** compounded annually, and the third account pays **2%** compounded annually. After one year, you earn **$31,000** in interest. If you invest four times the money into the account that pays **3%** compared to **2%**, how much did you invest in each account?

- Investment in the **3%** account is $ [ ]
- Investment in the **4%** account is $ [ ]
- Investment in the **2%** account is $ [ ]

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