A Trust Account Manager Has $500,000 to Be Invested in Three

question 92

Multiple Choice

A trust account manager has $500,000 to be invested in three different accounts. The accounts pay 5%, 6%, and 8%, and the goal is to earn $34,000. Assuming that x dollars are invested at 5%, y dollars are invested at 6%, and Z dollars are invested at 8%, find y in terms of z.

• A) \(y = - 600,000 + 2 z\)
• B) \(\mathrm { y } = 900,000 - 3 \mathrm { z }\)
• C) \(y = - 400,000 + 2 z\)
• D) \(\mathrm { y } = 1,100,000 - 3 \mathrm { z }\)

---

Definitions:

Accurate

Without inaccuracies or flaws; exact.

Repeating Decimal

A decimal fraction in which a sequence of digits repeats indefinitely.

Decimal Notation

A method of writing numbers that uses a decimal point to separate the whole number from fractions of a whole.

Percent Equivalent

The decimal or fractional representation of a percent, illustrating the proportion of a whole.