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28 December, 04:10

Choco pies are cookies made from chocolate (c), sugar (s), and flour (. Chocolate costs $5 per pound, sugar costs

$3 per pound, and flour costs $2 per pound. You spend $50 on 18 pounds of food and buy twice as much flour as

sugar

Calvin wants to invest $12,000 in deposits. For tax purposes, he wants his total interest to be $600. He wants to put

$1000 more in a 2-year deposit than in a l-year deposit and invest the rest in a 3-year deposit. How much money

should he invest in each deposit?

Number of Years

Rate

2.0%

5.09

6.0%

1-year: $2200, 2-year: $3200, 3-year: $6600

1-year: $4000, 2-year: S5000, 3-year: $3000

1-year: S3200, 2-year: $4200, 3-year: $4600

1-year: $1000, 2-year: S2000, 3-year: $9000

+5
Answers (1)
  1. 28 December, 04:37
    0
    Question:

    justinapace7446

    Yesterday

    Mathematics

    High School

    +5 pts

    Choco pies are cookies made from chocolate (c), sugar (s), and flour (. Chocolate costs $5 per pound, sugar costs

    $3 per pound, and flour costs $2 per pound. You spend $50 on 18 pounds of food and buy twice as much flour as

    sugar

    Calvin wants to invest $12,000 in deposits. For tax purposes, he wants his total interest to be $600. He wants to put

    $1000 more in a 2-year deposit than in a l-year deposit and invest the rest in a 3-year deposit. How much money

    should he invest in each deposit?

    Number of Years

    Rate

    2.0%

    5.0%

    6.0%

    Answer:

    1-year: $2200, 2-year: $3200, 3-year: $6600

    Step-by-step explanation:

    Assume y = Amount invested for 1 year.

    y + 1000 = investment amount for 2 years

    12000 - (y + y + 1000) = amount invested for 3 years

    11000 - 2y = amount invested for 3 years

    Total interest

    Multiplying each by its corresponding rate

    (0.02 * y) + (0.05 * (y+1000)) + (0.06 * (11000-2y)) = 600

    0.02y + 0.05y + 50 + 660 - 0.12y = 600

    -0.05y + 710 = 600

    -0.05y = 600 - 710

    -0.05y = - 110

    y = 2200

    Therefore first year = y = $2200

    Investment for 2 years = y + 1000 = 2200 + 1000 = $3200

    Investment for 3 years = 11000 - 2y = (11000 - (2*2200)) = (11000 - 4400) = $6600
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