A Stockbroker Has Money in Three Accounts

question 224

Essay

A stockbroker has money in three accounts. The interest rates on the three accounts are 6%, 8%, and 14%. If she has twice as much money invested at 8% as she has invested at 6%, three times as much at 14% as she has at 6%, and the total interest for the year is $416, how much is invested at each rate? ( Hint : Let = the amount invested at 6%.)$ __________ invested at 6% $ __________ invested at 8% $ __________ invested at 14%

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Definitions:

Inventory Ledger

A record that keeps track of the detailed inventory transactions of a business, including purchases, sales, returns, and write-offs.

Cost Flow

The pattern in which costs move through a business, beginning with the acquisition of raw materials and ending with the delivery of final products to consumers.

First-In, First-Out

A method of valuing inventory that presumes items are sold in their purchase sequence, first selling the oldest products.

Purchase Order

An official document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.