Explanation Given Information: Money deposited in accounts is $ 4500 . 5 % interest one account, 5.5 % interest from second account and the 4 % interest from third account. $ 1000 is more in the 5.5 % account than the 4 % account. After the one year he earn $ 225 as interest. Formula used: Step1: Convert the equations in standard form A x +B y +C z =D . Step2: From a pair of equation eliminate one variable by using the addition method. Step3: Now eliminate the same variable from a different pair of equations. Step4: After the completion of step2 and step3, we have two equations in two variables, solve these equations by substitution or addition method. Step5: Put values of a variable from step4 into any of the equation that has the third variable. Then get the value of the third variable. Calculation: Let x be the amount in 5 % CD, y be the amount in the 5.5 % CD and z be the amount in the 4 % CD. According to the question, the equations are as follows: x + y + z = 4500 ………… (1) 0.5 x + 0.55 y + 0.4 z = 225 ………… (2) y = z + 1000 ………… (3) Eliminate the decimals in the equation (2): 50 x + 55 y + 40 z = 22500 Add the first and third equations to eliminate z : x + y + z = 4500 y − z = 1000 _ x + 2 y = 5500 </

6th Edition

ISBN: 9781266148941

Author: Miller

Publisher: MCG CUSTOM

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Chapter 4.6, Problem 13PE

To determine

The money deposited in each account.

Winston deposited $4500 into three accounts: one pays 5% interest, another pays 5.5% interest and the third pays 4% interest. He deposits $1000 more in the 5.5% account than he does in the 4% account. After the first year, he earned a total of $225.

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Chapter 4.6, Problem 12PE

Chapter 4.6, Problem 14PE

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The money deposited in each account. Winston deposited $ 4500 into three accounts: one pays 5 % interest, another pays 5.5 % interest and the third pays 4 % interest. He deposits $ 1000 more in the 5.5 % account than he does in the 4 % account. After the first year, he earned a total of $ 225 .

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The money deposited in each account. Winston deposited $4500 into three accounts: one pays 5% interest, another pays 5.5% interest and the third pays 4% interest. He deposits $1000 more in the 5.5% account than he does in the 4% account. After the first year, he earned a total of $225.

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Chapter 4 Solutions

The money deposited in each account.

Winston deposited $4500 into three accounts: one pays 5% interest, another pays 5.5% interest and the third pays 4% interest. He deposits $1000 more in the 5.5% account than he does in the 4% account. After the first year, he earned a total of $225.