A Stockbroker Has Money in Three Accounts

question 162

Multiple Choice

A stockbroker has money in three accounts. The interest rates on the three accounts are 8%, 10%, and 14%. If she has twice as much money invested at 10% as she has invested at 8%, three times as much at 14% as she has at 8%, and the total interest for the year is $455, how much is invested at each rate? ( Hint : Let x = the amount invested at 8%.)

• A) $580 invested at 8% $1,160 invested at 10%
• $1,740 invested at 14%
• B) $650 invested at 8% $1,300 invested at 10%
• $1,950 invested at 14%
• C) $755 invested at 8% $1,510 invested at 10%
• $2,265 invested at 14%
• D) $710 invested at 8% $1,420 invested at 10%
• $2,130 invested at 14%
• E) $647 invested at 8% $1,294 invested at 10%
• $1,941 invested at 14%

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Definitions:

Merger

A business strategy where two or more companies combine their assets and operations to form a new entity.

Not-for-Profit Entities

Organizations that operate primarily for purposes other than making a profit, focusing instead on fulfilling a societal, educational, charitable, or cultural mission.

Equity Securities

Financial instruments that signify an ownership interest in a company or entity and may entitle the holder to a share of the corporation's residual cash flows or assets.