An Accountant Has Money in Three Accounts That Pay 8

question 235

Multiple Choice

An accountant has money in three accounts that pay 8%, 10%, and 13% in annual interest. He has twice as much invested at 8% as he does at 10% and three times as much invested at 13% as he does at 10%. If the total interest from the three accounts if $455 for the year, how much is invested at each rate? ( Hint : Let x = the amount invested at 10%.)

• A) $1,400 invested at 8% $700 invested at 10% $2,100 invested at 13%
• B) $1,450 invested at 8% $725 invested at 10% $2,175 invested at 13%
• C) $1,410 invested at 8% $705 invested at 10% $2,115 invested at 13%
• D) $1,330 invested at 8% $665 invested at 8% $1,295 invested at 13%
• E) $1,350 invested at 8% $675 invested at 10% $2,025 invested at 13%

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Definitions:

Fixed-ratio Schedule

A type of reinforcement schedule in operant conditioning where a response is reinforced only after a specified number of responses, leading to high and steady response rates.

Reinforcement

In psychology, a process in which a behavior is made more likely to occur in the future by its consequences.

Specific Number

A distinct or precisely identified quantity, often used in mathematical or statistical contexts.

Randomly Varying

Describes a process or phenomenon that changes unpredictably, without a discernible pattern or order.