A Stockbroker Has Money in Three Accounts

question 44

Multiple Choice

A stockbroker has money in three accounts. The interest rates on the three accounts are 8%, 10%, and 12%. If she has twice as much money invested at 10% as she has invested at 8%, three times as much at 12% as she has at 8%, and the total interest for the year is $384, how much is invested at each rate? ( Hint : Let x = the amount invested at 8%.)

• A)$510 invested at 8% $1,020 invested at 10%, $1,530 invested at 12%
• B)$600 invested at 8% $1,200 invested at 10%, $1,800 invested at 12%
• C)$660 invested at 8% $1,320 invested at 10%, $1,980 invested at 12%
• D)$597 invested at 8% $1,194 invested at 10%, $1,791 invested at 12%
• E)$735 invested at 8% $1,470 invested at 10%, $2,205 invested at 12%

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Definitions:

Admit To

To confess or acknowledge something, often referring to acceptance of a fact or situation.

Per Capita

A statistical measure expressed as the average per person for a given area, such as income per capita.

Distributing

The process of delivering or spreading out goods, services, or resources from a central point to multiple recipients or locations.

Estate

The total of all the property, assets, and debts left by an individual at death, or the property entrusted to an individual during their lifetime.