Adrian has $12,000 invested in a savings account which pays 5%, a time deposit paying 7% and a bond that pays 10%. He has $1000 less invested in the bond than in his savings account, and he earned $860 in annual interest. How much money is in each account?

Answer 1

What is your equation ?

Answer 2

a+b+c=12000
.5a+.7b(1000-b)+.10c=860

Answer 3

makes no sense,
I think you just wrote something down because I asked you for an equation.

you have 3 variables in your first equation, so you will need 3 different equations to solve
if a, b, and c are you different investments, then
a+b+c = 860 , not 1000. Where did it say that the total was 1000

"Adrian has $12,000 invested in a savings account which pays 5%"
---> first investment is 12,000, at 5% interest that would come to $600

"a time deposit paying 7% " , assuming that is the savings account
----> 2nd investment is x , at 7% interest will yield .07x

"He has $1000 less invested in the bond than in his savings account"
---- 3rd investment is x-1000 , at 10% will yield
.1(x-1000)

now what will be your equation ?

Answer 4

.5(12000)+.07x+.1(x-1000)=12000

Answer 5

close, 2 errors!
5% = .05, not .5
why do you set the total to 1200, didn't it say 860 ?

make the change, now solve that equation.