Bill invested $15,000 in three accounts. The savings account paid 1% interest, the Mutual fund paid 10% interest, and the CD paid 2% interest. In one year, Bill earned $210 in interest. If Bill put four times as much in savings as he put in the CD, how much money did Bill put into savings (rounded to the nearest cent)?

x+y+z = 15000

.01x + .10y + .02z = 210
x = 4z

Now just solve for x,y,z

See previous post: Mon,11-18-13,11:59 AM.

Let's assume the amount of money that Bill invested in the CD is 'x'.

Since Bill put four times as much in savings as he put in the CD, he put 4x in savings.

The total amount that Bill invested is the sum of the amounts invested in each account:
x (CD) + 4x (Savings) + 15000 - 5x (Mutual Fund) = 15000

Simplifying the equation:
- x + 4x - 5x = 15000 - 15000
-2x = -3000

Dividing both sides of the equation by -2:
x = -3000 / -2
x = 1500

Therefore, Bill put $1,500 into the CD.

To find the amount Bill put into savings, we multiply the number of CDs invested (4):
4x = 4 * 1500
4x = 6000

Therefore, Bill put $6,000 into savings.

To find out how much money Bill put into savings, we need to set up equations based on the given information. Let's call the amount Bill put into the CD as 'x' dollars.

According to the given information, Bill put four times as much in savings as he put in the CD. So, the amount Bill put into savings would be 4x dollars.

Now, let's calculate the annual interest from each account. The savings account paid 1% interest, which can be written as 0.01. The mutual fund paid 10% interest, which can be written as 0.1. The CD paid 2% interest, which can be written as 0.02.

The formula to calculate interest can be written as: interest = principal * rate.

From the given information, the total interest earned by Bill in one year is $210. We can set up the equation as:

0.01 * (4x) + 0.1 * (x) + 0.02 * (x) = 210

Simplifying the equation:

0.04x + 0.1x + 0.02x = 210

0.16x = 210

To find the value of x, we divide both sides of the equation by 0.16:

x = 210 / 0.16

x ≈ 1312.5

Now, we know that x is the amount Bill put into the CD. However, we need to find the amount he put into savings. Since the amount in savings is four times the amount in the CD, we can multiply x by 4:

4x ≈ 4 * 1312.5

4x ≈ 5250

Therefore, Bill put approximately $5250 into savings.