Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
Investment Mixture A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund. Find the amount invested in each fund.

Investment Mixture A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund. Find the amount invested in each fund.

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.CT: Chapter Test
Problem 6CT: Wholesale distribution Ace Electronics, Hi-Fi Stereo, and CD World buy a total of 175 DVD players...
See similar textbooks
icon
Related questions
Question
43. Investment Mixture A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund. Find the amount invested in each fund.
Transcribed Image Text:43. Investment Mixture A sum of $20,000 is invested in three mutual funds. In one year the first fund grew by 5%, the second by 7%, and the third by 10%. Total earnings for the year were $1650. The amount invested in the third fund was four times the amount invested in the first fund. Find the amount invested in each fund.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer