Thread: Algebra Word Problem

Q. After inheriting $30,000 from a rich aunt, David decides to place the money in three different investments:
= a savings account paying 5%
= a bond account paying 7%
= a stock account paying 9%
After 1 year, he earned $2080 in interest. Find how much was invested at each rate if $8000 less was invested at 9% than at 7%.


Please explain how I can set up this mind boggling question for this mathematically challenged grasshopper. Thank you!

Originally Posted by Sasurai

Q. After inheriting $30,000 from a rich aunt, David decides to place the money in three different investments:
= a savings account paying 5%
= a bond account paying 7%
= a stock account paying 9%
After 1 year, he earned $2080 in interest. Find how much was invested at each rate if $8000 less was invested at 9% than at 7%.


Please explain how I can set up this mind boggling question for this mathematically challenged grasshopper. Thank you!

Hi Sasuria,

let x= investment @7%
x-8000 = invest @9%
30000 -( 2x -8000) =invest @5%

calculate the interest for each invest in terms of x. add them and equate to 2080.It is not difficult but extremely easy to make mistakes with signs


bjh

Thank you sir!