Problem

An investment of $92,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was $7200. The interest from the first investment was 4 times the interest from the second. Find the amounts of the three parts of the investment.
The first part of the investment was $.
The second part of the investment was $.
The third part of the investment was $.

Answer

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Answer

Final Answer: The first part of the investment was 54000. The second part of the investment was 18000. The third part of the investment was 20000.

Steps

Step 1 :Let's denote the amounts of the three parts of the investment as x, y, and z for the first, second, and third part respectively.

Step 2 :We know that the total investment is $92,000, so we have the equation x+y+z=92000.

Step 3 :The total interest from the investments was $7200, so we have the equation 0.08x+0.06y+0.09z=7200.

Step 4 :The interest from the first investment was 4 times the interest from the second, so we have the equation 0.08x=40.06y.

Step 5 :Solving these three equations, we find that x=54000, y=18000, and z=20000.

Step 6 :Final Answer: The first part of the investment was 54000. The second part of the investment was 18000. The third part of the investment was 20000.

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