##### Algebra word problem with many parts

 Algebra Tutor: None Selected Time limit: 1 Day

The controller (money manager) for a small company puts some money in the bank account paying 4% per year. He uses some additional money. amounting to 1/3 the amount in the bank, to buy bonds paying 5% per year. With the balance of the funds, he buys a 9% certificate of deposit. The first year the investments bring a return of \$672. If the total of the investment is \$10,000 how much is invested at each rate?

The amount in the bank account is \$???, amount in bonds \$???, certificate deposit \$???

May 18th, 2015

\$x @ 4%, \$x/3 @ 5% , \$(10,000- 4x/3) @ 9%

.04x +.05x/3 + .09(10000 - 4x/3) = 729

4x + 5x/3 + 9(10000 - 4x/3) = 72900

19x/3 = 17100, x = 2700
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\$2700 @ 4%
\$900 @ 5%
\$6400 @9% ..............................................................................................................................

May 18th, 2015

Hello, thanks for that answer, but I am still totally lost!

May 18th, 2015

And I just found out the answer was wrong....dont know why...but I thank you for your time and effort with this!

Respectfully submitted,

Fernando

May 18th, 2015

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May 18th, 2015
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May 18th, 2015
Dec 8th, 2016
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