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What is the amount of the first part of the investment

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Question - An investment of $40,000 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 $3060. The interest from the first investment was 2 times the interest from the second. Find the amounts of the three parts of the investment.

Required -

1. What is the amount of the first part of the investment?

2. What is the amount of the second part of the investment?

3. What is the amount of the third part of the investment?

Reference no: EM132618447

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