An Accountant Has Money in Three Accounts That Pay 6

question 50

Short Answer

An accountant has money in three accounts that pay 6%, 10%, and 12% in annual interest. He has twice as much invested at 6% as he does at 10% and three times as much invested at 12% as he does at 10%. If the total interest from the three accounts if $232 for the year, how much is invested at each rate? ( Hint : Let = the amount invested at 10%.) $ __________ invested at 6% $ __________ invested at 10% $ __________ invested at 12%

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Definitions:

Consumer Surplus

The gap between what consumers are prepared and able to spend on a product or service compared to what they end up paying in reality.

Per-Unit Burden

Represents the tax amount charged on each unit of a good or service, reflecting the financial impact of taxes on production and consumption.

Tax

Compulsory charges levied by a government on individuals or corporations to finance government activities and public services.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive due to market prices.