I’m still struggling to answer this question, unfortunately. It is far more complex than the video to which it relates. I follow the principles, but I end up with strange figures at the end.
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hey
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The person has to divide the money into 3 parts. Call them x (savings account), y (CD), and z (bonds).
Equation 1: x + y + z = 10000 (because this is all the money he started off with)
Equation 2: 0.02x + 0.03y + 0.04z = 260 (this is the interest that you’d get at the end of year 1 if Equation 3 is satisfied)
Equation 3: x = 2y (he puts twice as much money in the savings account as in the CDs ie if he puts y amount in CDs he’d have to put 2y in savings account)
So basically you have:
x + y + z = 10000
2x + 3y + 4z = 26000
x - 2y + 0z = 0
or more simply
2y + y + z = 10000
4y + 3y + z = 26000
Solve and you shall have your answer.
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My problem was that I’ve actually understood the following:
…he put twice as much money in the savings account as in the CDs, and “z” money in bonds.
As
x - 2y - 2z = 0
Which obviously lead me to a different result.
I’m not sure if my understanding of English here is not correct, or whether this statement is wrongly formed.
In my eyes correct way would be to state:
he put twice as much money in the savings account as in the CDs.
Yes, I think you are misreading that sentence. This was discussed earlier on this thread.
The correct equations are given on a more recent earlier post.
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@paulinpaloalto thanks for pointing. It’ll be great to have that sentenced rephrased (to form you proposed) so there’s no confusion
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