amount in at 4.5% --- x
amount in at 5% ----- 2x
amount in at 4% --- 1000000-3x
solve for x:
.045x + .05(2x) + .04(1000000-3x) = 45500
A company placed $1,000,000 in three different accounts. It placed part in short term notes paying 4.5% per year, twice as much in government bonds paying 5%, and the rest in utility bonds paying 4%. The income after one year was $45,500. What are the three equations needed to set this problem up? How much did the company place in each account?
1 answer
1 answer