Precalculus: Mathematics for Calculus, 7th Edition

Published by Brooks Cole
ISBN 10: 1305071751
ISBN 13: 978-1-30507-175-9

Chapter 10 - Review - Exercises - Page 771: 45

Answer

$2500$ dollars in Bank A, $40000$ dollars in Bank B, $17500$ dollars in Bank C.

Work Step by Step

Step 1. Assume she invested $x$ amount in Bank A, $y$ amount in Bank B, and $z$ amount in Bank C. Step 2. Based on the conditions given, we can set up the following system of equations: $\begin{cases} x+y+z=60000\hspace3cm(total-amount) \\y=2(x+z)\\0.02x+0.025y+0.03z=1575\hspace1cm(total-interests) \end{cases}$ Step 3. Multiply 1000 to remove the decimals in the third equation and use the second equation for substitutions: $\begin{cases} x+2(x+z)+z=60000 \\y=2(x+z)\\20x+25\times2(x+z)+30z=1575000 \end{cases}$ Step 4. Cancel common factors in the third equation and combine like terms: $\begin{cases} x+z=20000 \\y=2(x+z)\\14x+16z=315000 \end{cases}$ Step 5. Combine the first two equations gives $y=40000$. The first equation gives $z=20000-x$, use it in the third equation to give $14x+16(20000-x)=315000$ or $x=2500$, thus $z=17500$ Step 6. Conclusion: she invested $2500$ dollars in Bank A, $40000$ dollars in Bank B, and $17500$ dollars in Bank C.
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